Portugal thinks ‘high risk’ Ireland will need bailout

PORTUGAL’S Finance Minister has said “the risk is high” Ireland will have to ask for an international rescue, and said the Irish Government must take into account what is best for the eurozone as well as the country when it decides whether to seek financial help from the European Union and International Monetary Fund.

“Portugal has been able to guarantee financing in the market,” Fernando Teixeira dos Santos said in the interview. “There has been demand for Portuguese debt. We are in a situation where we have mechanisms to continue to finance ourselves in the markets and face this situation.”

“Portugal’s situation is much different from Ireland’s,” he said. “Ireland is facing problems with its financial system that Portugal doesn’t have.”