Lisbon - Portugal must resort to overcome financial aid from the European Union his financial troubles said, Finance Minister Fernando Teixeira dos Santos on Wednesday.
"In this difficult situation, which can be avoided, I understand that it is necessary on the financial mechanisms available at European level," he said in comments in the online edition of business reported daily Jornal de Negocios.
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It was unclear from his comment, whether he secure a short-term loan for the financing referred general elections snap to a June 5 or a full bailout as that of Greece and Ireland-received and which markets widely expect Lisbon next need.
So far, has the Government, which will allow up to the election in a caretaker capacity, insisted that no foreign aid is required.
The caretaker Government calls the country's leading bankers on Tuesday urgently a short-term loan fears in financial markets until the election to calm look.
Portugal bond yields shot higher and credit rating agencies have downgraded the country's creditworthiness, since the Socialist Government last month after the Parliament rejected entered a strict plan.
Economists believe mainly that Portugal finally need a full bailout.
Copyright 2011 Thomson Reuters.
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