EU to gain 1.3 billion from Portugal bailout

Published on 11 May 2011 at 12:00

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"Euribor rise punishes interest rate Portugal will pay EU", headlines Público, adding that the interest rate varying between 5.5 and 6 percent, is higher than Ireland’s. The rate was announced on May 10 by Commissioner Olli Rehn after the European Commission validated the Portuguese financial aid programme. The Lisbon daily notes that the exact value will be established by European finance ministers on 16 May, when the whole package is expected to be approved. Correio da Manhã, another Portuguese daily, adds that Brussels will garner an annual 1.3 billion euro profit on bailout.

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