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Portugal aid to be 75-90 bln euros - euro zone source
May 4, 2011 / 1:58 PM / 6 years ago

Portugal aid to be 75-90 bln euros - euro zone source

BRUSSELS, May 4 (Reuters) - The details of Portugal’s EU/IMF bailout are still being finalised but the financial aid is expected to be between 75 and 90 billion euros, depending on how much assistance Portugal’s banks need, a euro zone source said.

Portuguese government sources have said Portugal will receive 78 billion euros from the EU and IMF under a provisional agreement struck with caretaker Prime Minister Jose Socrates on Tuesday, with 12 billion euros of that amount going to the banks.

“Officially the range is still 75-90 billion euros,” a senior euro zone finance source told Reuters, saying the details would be finalised in the coming two days. “A lot depends on how much Portugal’s banks end up needing.”

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