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EU Says Portugal Needs About $114 Billion in Aid

GODOLLO, Hungary -- Europe's top financial officials said Friday that Portugal will need around euro80 billion ($114 billion) in rescue loans, but a tense election campaign in the debt-ridden country is set to complicate reaching a deal with opposing political parties. A full-fledged adjustment program should be in place...

Will Propping Up Portugal Halt Spread of Insolvency in Europe?

ATHENS, Greece -- Following Greece and Ireland, Portugal, too, has requested a bailout from its European peers. But will Spain, a larger economy with stronger significance to global finance, follow? And more important, has European aid done anything to solve what appears to be a growing solvency problem. In answering at...

Portugal Seeks Bailout, Europe Debt Crisis Spreads

LISBON, Portugal -- Portugal asked for a bailout Wednesday to relieve its crushing debt, joining Greece and Ireland by becoming the third European nation to ask for outside help amid a bruising European financial crisis. Prime Minister Jose Socrates went on national television to announce that Portugal must take...

EU Bailout of Portugal 'Inevitable' [VIDEO]

Portugal's Prime Minister Quits After Debt-Cutting Plan Nixed

LISBON, Portugal -- Debt-stressed Portugal's prime minister quit Wednesday after opposition parties rejected his latest austerity measures devised to avoid a bailout that looks increasingly likely. All opposition parties united to defeat Prime Minister Jose Socrates' proposals in a parliamentary vote, saying the...

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06/02/12 Arts: Portugal's Arts Scene Struggles To Keep The... Source: Armenian News Network / Groong PORTUGAL'S ARTS SCENE STRUGGLES TO KEEP THE LIGHTS ON by Caille Millner Spiegel Online International May 31, 2012 Thursday 5:43 PM GMT+1 Germany HIGHLIGHT: With the euro crisis raging, and public and private funds gone, Portuguese artists have learned to be strategic in order to survive.
06/02/12 Euro 2012: Ronaldo key for Portugal Source: Sify The 42-year-old former Portuguese international and Sporting coach Bento decided his team would play in a 4-3-3 formation with Ronaldo in a free role on the left side and Manchester United winger Nani on the right.
06/02/12 German Exports to Southern Europe Plunged in First... Source: The Portugal News German exports to southern Europe plunged in the first quarter as austerity measures in nations hit by the sovereign debt crisis curbed demand.
06/02/12 Instant View: Euro zone joblessness hits highest ever... Source: The Portugal News Joblessness in the euro zone rose to 11 percent in March and April, the highest level since records began in 1995, the European Union's statistics office Eurostat said on Friday.
06/02/12 Eurozone jobless rate remains at record-high 11 percent Source: The Portugal News Unemployment across the 17 countries that use the euro stayed at 11 percent in April, the highest level since the single currency was introduced in 1999, piling further pressure upon the region's leaders to switch from austerity to focus on stimulating growth.