Europe is good in sharing. After Greece and Ireland it has gained experience in bailing other nations of the European Union out. Even though these are efforts that are not welcomed by the countries, which received help because it shows they cannot handle their own problems themselves, other nations, such as Germany and France have been pushing the country to apply for rescue loans. These loans would stabilize the worth of the euro and would hopefully calm down the European debt-crisis. Therefore news about Portugal comes at an interesting time. Opposed to assumptions Portugal will not need external financial aid.
Portuguese officials have made it a point to show that they do not need any outside help. According to them, Portugal can continue to access international capital markets and will decrease its state budget deficit. Spain’s banks, which have invested heavily in the country are hoping that it will not be forced to request help because this would have strong negative consequences for the neighboring country and its financial assets.