Eurozone finance ministers are meeting in Budapest. They are telling Portugal that it must agree to tougher reforms if it has to secure aid from the EU and IMF, reports CNBC-TV's Guy Johnson.
It's now clear the Portugal will receive around USD 80 billion Euro bailout from its European Union (EU) colleagues and that plan will be over three years. But in return Portugal is going to have to institute more austerity and is likely to have to launch a fairly wide-reaching privatization programme. As Christine Lagarde, the French Finance Minister puts 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!
