EU readies bailout solution as Portugal struggles with debt

From USA TODAY:

The European Union tried Friday to draw a line under the government debt crisis, to keep the market turmoil that is pushing Portugal toward a bailout from infecting larger debt-heavy countries.

But as EU leaders in Brussels signed off on their “comprehensive package,” Portugal’s financial problems worsened. Its 10-year bond yields rose to 7.80%, a record high that shows investors fear the country might not be able to roll over its debt.

Portuguese officials have said that’s more interest than they can pay — and they need to tap bond markets again by June at the latest…

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