BERLIN (MNI) – Germany and France are pushing Portugal to seek
financial aid from the EU and IMF in order to prevent Spain and Belgium
from becoming the next casualties of the EU sovereign debt crisis,
German weekly Der Spiegel reported over the weekend .
After Portugal’s borrowing costs increased sharply last week,
German and French government experts fear that the southern European
country soon won’t be able to raise money on capital markets anymore,
the magazine wrote.
According to Der Spiegel, Germany and France also want Eurozone
member states to pledge that they are ready to do whatever it takes to
defend the single currency zone, including expanding the existing E750
billion rescue fund.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
[TOPICS: M$X$$$,M$$CR$,MT$$$$,MGX$$$,M$$FX$,M$G$$$,M$F$$$]
