Portugal bailout pressures continue to mount

| March 29, 2011 | 0 Comments

Portugal bailout pressures continue to mount

Speculation is mounting again that Portugal may need financial assistance after a rise in bond yields.

Yields on Portuguese 10-year bonds climbed to 8.17% yesterday - a record high after last week’s rise to 8%.

The country’s borrowing costs have risen in recent months – mimicking what happened in Greece and Ireland – just before they were forced to seek emergency aid.

There have been fears over recent months that the debt crisis in the euro zone could spread to weaker economies, such as Portugal, Spain, Italy and Belgium.

Meanwhile, the rise in yields came as credit rating agency Standard & Poor’s downgraded its view of five of the country’s banks.

Tags: 10-year bonds, , , , , , , pressures, ,

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