The Government says Portugal’s request for an EU bailout will help Ireland’s case for a reduced interest rate on our bailout loans.
Portugal made the the application for financial aid after pressure on its banking system became unbearable.
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The Spanish Government has denied that its economy is at risk if the crisis in Portugal spreads.
Here the Government believes the latest developments will help Ireland to make the case for a cheaper bailout.
The Tanaiste Eamon Gilmore said the Portugese request will have a bearing on Ireland’s own bailout deal:
