Portugal and Spain ‘will tap bailout fund’

SPAIN and Portugal will “unavoidably” request money from the EU/IMF fund, according to one of Europe’s leading economists.

If that happens, the turmoil in the markets could also see Ireland avail of the fund.

Speaking ahead of today’s summit, where the economic crisis will be a focal point, Daniel Gros and a dozen other world-renowned economists united to warn EU leaders that they must fix the underlying problems of the crisis.