In the news:
Originally published Friday, February 10, 2012 at 8:28 AM
Summary Box: Portugal wins German bailout support
SHOW OF SUPPORT: German Finance Minister Wolfgang Schaeuble told his Portuguese counterpart that Berlin is ready to support possible changes to Portugal's bailout program.
The Associated Press
SHOW OF SUPPORT: German Finance Minister Wolfgang Schaeuble told his Portuguese counterpart that Berlin is ready to support possible changes to Portugal's bailout program.
BITTER PILL: Portugal's promises to introduce tax hikes, pay cuts and other debt-reduction measures in return for the euro78 billion ($103 billion) rescue package have been widely blamed for the country's deepening recession and record unemployment.
BREATHING ROOM: The government has said it wants more flexible bailout terms, which it hasn't identified, though it insists Portugal doesn't need more money or time to restore its fiscal health.
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