Portugal’s caretaker government has said it needs financing from the European Union, marking a turnaround after resisting asking for aid for months despite sharply deteriorating financial conditions. Portugal’s situation worsened last month after the government resigned, sending bond yields soaring, sparking a series of rating downgrades and a warning by local banks that they may no longer be able to buy government debt. “I tried everything but we came to a moment that not…
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on April 6, 2011. Filed under