Greece got a bailout of 110 billion euro a year ago. Ireland signed 85 billion euro bailout last November. Now, Portugal has agreed to 78 billion euro of a bailout in May 2011.
Sarah Hewin, Head of Research-Europe at Standard Chartered Bank, in an interview with CNBC-TV18's Menaka Doshi, discuss implications of the bailout package, whether that number will be enough and what it means for the peripheral countries in the EU. Below is the verbatim transcript of the interview. Also watch the accompanying video. Q: Does this look like a good number? Do you think that if we manage to get the political consensus in Portugal post elections to back this bailout, will it put to rest the fear of Portugal defaulting on debt? A: The number is totally inline with the expectations. The 78 billion euro financed over three years. It is an agreement from all political parties and in particular the main opposition party. ItDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
