Brazil to lend Portugal helping hand

Published on 30 March 2011 at 10:44

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“Brazil available to buy Portuguese debt”, headlines Público, in the wake of Brazilian President Dilma Rousseff’s visit to the economically troubled country. Questioned by journalists as to whether Brazil intended to buy up Portuguese national debt, Rousseff answered that “Brazil will do everything to help”. But denied that the outgoing Portuguese government had made any formal request for aid. This comes as Standard & Poor’s downgraded Portugal’s credit rating to BBB-, and as interest rates on national debt reached record highs of 9.04% on five year bonds and 8.023% for ten year bonds.

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