Portugal begins talks Bail-Out

Most Popular posts from other blogs...

18 April 2011 last updated at 14: 54 GMT Finance Minister Fernando Teixeira dos Santos leads the Portuguese delegation in talks Portugal euro ($115bn, £ 70bn) started with international authorities about the conditions of a Bail-Out, expected to be worth up to zurückgeschnitten talks.

Senior officials from Europe and the International Monetary Fund meet Portuguese Finance Minister Fernando Teixeira dos Santos in Lisbon.

Meanwhile denied Greece that a Bail-Out got in the last year, reports that its debts would have to restructure it.

Euro lost 1% of its value against the dollar as one of the reports.

It was trading at $1.4275. Against the pound, it was 0.7% to 87.78 pence.

Benchmark for Portugal and Greece reached the yields on government bonds also its highest level since the introduction of the euro of 1999 on concerns the European debt crisis.

"Greece in such a difficult situation that restructuring is inevitable, sooner rather than later", said Daniel Gros of the Central for European policy studies BBC world.

"Most earlier say would would be better than later, but the politicians do not agree, do they want to keep, as long as possible" he added.

Read the most important story of

, that the Finnish Parliament has the right to vote at the request of the EU to other countries Bail-Out. The strong showing of the true Finns could potentially delay the rescue plan for Portugal. "

End quote Bank of Greece Governor George Provopoulos its debt - i.e. the conditions change - restructuring Gavin Hewitt was"neither necessary nor desirable"BBC Europe Editor."

The General Confederation of the Workers Union, the one million members, which said that it, the cost-cutting measures to protest would hold a strike on the 11.

And the European Commission denied there were talks about a possible restructuring of the Greek debt.

The nervousness spread market even after Spain, which, to borrow money for 12 months at an auction on Monday had to pay much higher interest rates.

The heavily indebted State, which is often spoken as the next State, a sovereign debt crisis could be facing a rate of 2.77%, up from 2.13% paid last month.

Finnish question

Officials have suggested that the conditions of Portugal's rescue deal agreed by mid-May.

It is to find a Bail-Out the third element of the euro within a year.

Greece received € 110bn in May last year, during the Irish Republic a Bail-Out at about 85bn euro in November were.

Read the most important story that two German EU delegations - Jürgen Kröger for the European Commission and Rasmus Rueff for the European Central Bank - lead while the IMF team is headed by Dane, Poul Thomsen.

However the true Finns can be the completion of the Portuguese Bail-Out more complicated by the strong showing last party in Finland. The true Finns are take advantage of and against the Bail-Out.

The European facility for financial stability, worth up to 440bn euros, financed by members of the eurozone and requires unanimous approval to be used.

An enemy of the Finnish Government could theoretically veto the package and, in contrast to other countries of the euro area, the Finnish Parliament can vote whether to approve the measures.

The European Commission tried to downplay this possibility in the light of the election campaign.

"We expect Finland fully to its obligations with regard to the involvement of Finland as the rest of the eurozone,", he said.

Watch: "It is almost a done deal," says Daniel Gros of the Centre for European policy studies

In the Finnish television, the true Finns, leader, Timo Soini, said: "The package, that is, I think it is."

Strict opposition

In Portugal, the main opposition party in the Transitional Government bid Bail-Out is secure, but many members of the public have been vocal in their opposition, the BBC's Alison Roberts reports.

"Is not clear how much can be more rigour imposed on results from the June elections, regardless of which Government," says our correspondent in Lisbon.

Workers in the public sector, which have already cut their wages plan to strike at the beginning of May. Also, there were widespread protests with young people in the last month about the lack of job opportunities.

The Government of José Sócrates collapsed last month - Bail-Out - request, because he does not pass package an ambitious austerity measures and privatization could get.

But some economists suggest that the IMF are on the interest rate and duration of the loan to EU officials, under pressure from voters in the Member States are, which put the money could take a softer line.

This is, since the IMF last week that Portugal forecast would GDP this year and continue to shrink.