EU not aware of any bail-out pressure on Portugal

BRUSSELS (BestGrowthStock) – The European Commission and Germany dismissed a report on Friday that Portugal faced pressure of European Union peers to accept a bail-out.

The Commission also said it believed Portugal had taken proper measures to address its fiscal problems, a Commission spokesman said on Friday.

“I am not aware of any talks in which Portugal might be pressed to accept aid,” Amadeu Altafaj said.

Financial Times Deutschland reported that euro zone nations and the European Central Bank were urging Portugal to apply for aid in order to save Spain from having to do the same.

A spokesman for the German finance ministry said this was not Germany’s view and said Portugal was not being pressured.

“Exerting pressure is not a mechanism that is foreseen by the euro rescue shield,” he said, referring to the report.

The Commission’s Altafaj reiterated that the situation of Portugal was different from that of the crisis-hit Ireland, which has asked for European Union emergency aid.

“Portugal has passed an ambitious budget for 2011, in which there are measures to address the situation. Its situation is different as its banking sector is relatively healthy,” he said.

EU not aware of any bail-out pressure on Portugal