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New Open Europe briefing: Portuguese bail-out could amount to €70 billion

(PresseBox) (London, )
With EU leaders meeting today in Brussels in a bid to agree a new 'grand bargain' to save the eurozone, Open Europe has published a briefing arguing that Portugal looks set to be the next country to apply for a bail-out from the EU and the IMF.

Yesterday, the Portuguese government failed to win parliamentary approval for fresh austerity measures, leading the Prime Minister, José Sócrates, to resign, putting renewed pressure on Portugal's finances. This could leave the country without a permanent government for months, as new elections are not expected until May, at the earliest - hugely complicating any aaia-mul edqytmiusfeo.

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