Finns agree to back Portuguese bailout plan

Thursday, 12 May 2011 12:05

S&P might possibly downgrade Portugal from BBB- if the country's banks will not be able to follow capital rules or require a bigger bailout plan.  Standard and Poor released this in yesterday's reports.

Finland decided that they will back a Portuguese bailout under conditions such as state asset sales.  Portugal needs all 17 nations from the EU to tap Europe's stability for cash.  Another condition is that Finland wants to be sure that donors of the bailout plan will be repaid before private investors.