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EU aid for Portugal 'sensible,' Germany says

The Local · 7 Apr 2011, 13:24

Published: 07 Apr 2011 13:24 GMT+02:00

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"The markets also seem to see it this way, judging from initial reactions," Schäuble said in a statement, as European finance ministers prepared for talks in Budapest likely to be dominated by the eurozone's debt crisis.

After insisting for weeks that it did not need to go cap-in-hand to Brussels, the government in Lisbon finally gave in on Wednesday, bowing to severe market pressure.

Outgoing Portuguese Prime Minister Jose Socrates said a bailout became inevitable when lawmakers rejected new austerity measures presented as the last chance to balance the country's strained public finances.

Citing government sources, Portuguese newspaper Diario Economico said Lisbon requires €90 billion ($128 billion) in aid, €5 billion more than Ireland's bailout package.

Luxembourg Prime Minister Jean-Claude Juncker, who heads the Eurogroup of finance ministers, has suggested €75 billion would be needed from the European Financial Stability Fund (EFSF).

The announcement also threw the spotlight on its wealthier neighbour, Spain, which has scrambled to slash spending to reassure markets that it will not be the next domino to fall after Athens, Dublin and Lisbon.

Schäuble said Lisbon's request showed the effectiveness of the bailout fund.

"This demonstrates that the procedure agreed in Europe in May 2010 is working. With the EFSF, there is a clear framework for negotiation in such situations," he said.

Story continues below…

European stocks mostly steadied and the euro fell slightly against the dollar as analysts said traders effectively shrugged off the news after months of speculation that Lisbon would call for help.

AFP/The Local/adn

The Local (news@thelocal.de)

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Your comments about this article

14:05 April 7, 2011 by way2cool
Comment removed by The Local for breach of our terms.
14:24 April 7, 2011 by Johnne

Oh you´re here!

Ok, now I see that you don´t want to learn. Let me tell you about me, I´m an entrepreneur that has paid more tax than your whole family could ever dream of. I´ve done great things in my life & I´m happily married with two fine kids. I love this country, the country of my wife & kids. I won´t tell you that I´m not a refugee, like I said, come to Munich & come and see me:-D I know you´ll be ashamed that you never did anything good your life..you´ve been busy hating immigrants while they´ve been better than you. See you "westerner" you are nothing, and we are something-we´re better than you.

I´ve always known that people like you are nothing & you don´t even represent 5% of Westerners. You can´t be anything in your own country! you won´t be a father, you won´t be a leader. You were born weak and cowardly. God has cursed you to be envious,jelous,racist & insecured. You will never find peace because your women will always find stability in us and your children will always make us their idols. You will always be jelous of our morals, our culture,our strength, our beauty & our intelligence.

I am superior to you "@way2cool" you can´t do anything about it cos God made it so. I know that´s what is eating you from insideso I sympathise with you. You know you´re empty & ugly inside..you know it´s only junkies & fools that can marry you because we´ve taken the best of the best of your real women/wife materials. They´re are my mother, my wife & family members & the majority of Westerners..many are with beautiful black people like me.

I know you´re not a Westerner, YES I know, you now pretend as if you´re speaking for "white people" :-D no no no! I know Westerners better than that (my family are Germans)I will employ you, your parents and your woman. I will make your life less miserable, give you some African food to eat, and make you listen to good music. I will give you a beautiful black girl that´ll make you feel like a MAN cos I know you´ve never felt like one...how? your father was never one anyway so how would have taught how to be one?
14:34 April 7, 2011 by Mohamed_hs90
@Johnne .. why are you attacking the guy !! he did not say any racist comments !!!! he was talking about the EU crisis .. chill down

@Way2cool .. i think that ur point is not right ,, Germany is benefiting from the EU although it seems like paying a lot of money to these countries .. dnt forget that his money is going to be returned back to Germany with interest !! and that germany is importing and exporting to this countries and thus strengthening it economy
14:47 April 7, 2011 by Johnne

Sorry bro if my comments have embarrassed you. But please check the article of "06/04 Greens flying high with record voter approval (28 comments) »" he did make very very racist comments to me directly. I frist ignored him but later I found out that he really wanted me to respond- and I gave him because "black people" and immigrants will NOT accept racism against us anymore in this world..never again will my people take that from anybody.
14:49 April 7, 2011 by auniquecorn

I´ll take a beautiful black girl that will make me feel like a man.
14:56 April 7, 2011 by way2cool
Comment removed by The Local for breach of our terms.
15:10 April 7, 2011 by pseu
Where do you think all those billions of Euro that bought up those Portugues 1 year bonds at 10% interest came from?

Just a week ago I was reading about Portugal selling bonds one step above the classification of junk bonds.

Frankfurt bankers and the ECB HQ in Frankfurt is how Germany will rule Europe again.
15:24 April 7, 2011 by fatherknowsbest
One has to pity the germans these days. It started with the solidarity tax to support east germany and now dear old deutschland is supporting a growing proportion of europe. Some of us tried to tell germany that giving up the deutschmark was a bad idea but a political class driven by a combination of guilt and bad advice wouldn't listen. The ordinary german is working longer and harder than he did 10 years ago and making less in real terms with a resulting lower quality of life. Of course the monied class, the elites who pushed the euro through are avoiding most of the pain with tax dodges and other tactics. Where is the breaking point for the german voter, when Belgium or Spain goes under?
15:35 April 7, 2011 by Johnne

Don´t worry I´m sure you deserve it, a beautiful one with a nice figure 8 "not too slim" and not fat at all :-D She´ll make you feel like a real man & take good care of you. You´ll wake up every morning feeling strong & happy and motivated enough to carry on with your daily life :-D


Aw c´mon, you know quit well I won´t be crying...you know we don´t cry like you! You see "way2cool" I´m very disapointed in you because you simply expose how ignorant you are. You know deep inside you that what you´re saying is not true and you know that me & you are not in the same level or class. My background, and who/what I am right now. I know you don´t represent westerners and I´ll make you have a re-think of coming here to disguise. there are many people like you, enemies of the west & white people.

Like I said, my family are a mix of a mix of white & black so you´ve lost even what you think I am, & how you think I look.Just because I´m not a supporter of the CSU means I can´t be German, christian and moral "not too consevative" how many times do you go to church in a week? that´s if you go at all "chrisitian" I go every blessed sunday and from my own understanding, people like you don´t even deserve to enter any church cos you are a disgrace to the West, your race, and Christianity. Is this what the Scriptures taught you? to be racist & hate black people & immigrants? you should be ashamed of yourself. Now, what psychology do you want to play? that I don´t know that you´re not even who you claim to be? and throw a stone into the market that may hit my own person like you do? No! I won´t do that because like I said, a large part of my own family and ancestors are white so don´t think I would say anything racist against white people. And no, my wife is not 150kg-she is 83kg and you can´t even look at her in the face not to talk of talking to a woman of her class. She´s a senior accountant and has got PHD. I´m ready for you "@way2cool" cos you started it, I will show you that you can ONLY be wrong..ONLY be wrong.
16:20 April 7, 2011 by derExDeutsche
Completely 'Sensible' !!! HAHAHAHA

That's right, send them the Billions, KRAUTS! Consider them child support payments to your drug addled 40 year old son out on Bail. He'll pay you back, no really, he will. Right after he pays you back for all the other money he's 'borrowed'. HAHAHA

Don't change, Germany. Stay Gold, Ponyboy !
16:25 April 7, 2011 by way2cool
Comment removed by The Local for breach of our terms.
16:25 April 7, 2011 by Bishnu
@ Johnne & way to cool ; I dont know the real reasons behind your discussions , though it looks very arrogant how you guys are talking .

@Johnne if you are that much intelligent and educated, please behave also in the same way and show some respects to the people who are not involved here in this case, how can you write so ugly and respectless comments about the western women?, please read once more of your comment how you presented yourself . Otherwise doesnt it sound like "Empty vessel sounds much" And the same goes to way to cool as well.

Though, I am an immigrant and I have no prejudices to any cultures or people and I would not make a judgement based on a siingle person or thing.
16:38 April 7, 2011 by derExDeutsche
@ Hezbollah

Isn't there some Khat somewhere that you guys should be chewing on?
17:03 April 7, 2011 by Bishnu
90 billions of Euros for 10 million population , means 9000 Euros per-head? WOW a good job !
17:17 April 7, 2011 by auniquecorn
I tried to figure that out, but my calculator would´nt go that high.
17:19 April 7, 2011 by way2cool
Comment removed by The Local for breach of our terms.
20:00 April 7, 2011 by Englishted
Why should the U.K. pay they didn't join the euro?

Plus derExDeutsche has lost it he is writing and answering nobody.

"16:38 April 7, 2011 by derExDeutsche

@ Hezbollah

Isn't there some Khat somewhere that you guys should be chewing on?"

See what I mean .
11:19 April 8, 2011 by Angry Ami
Man EU PU, all those countries that can't get their financial house in order should be kicked out, no bank or lender would give Jürg average a loan if he is over his head with debt, but of course we tax payers have to foot the bill for state mismanagement, quatsch!
13:14 April 8, 2011 by Johnne

I know what I wrote and I defend it to the end. Actually that exactly what @way2cool needs. He started it & wrote extremely racist comments to me when I didn´t even notice him on this forum check> 06/04 Greens flying high with record voter approval (31 comments) » I sound "empty vessel" now because I explained that I´m not a poor refugee as he said right? I think you jumped into conclusion and I don´t care if you´re an immigrant or not. You know bro, support me if you´re really an immigrant cos this is the same divide and rule tactics people like @way2cool are good at & you´re picking on the wrong person here. I won´t stop blasting his Nazi head until he leaves this forum.
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