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Spain minister says Portugal does not need aid

Source: Reuters - Mon 10th Jan 2011

Portugal does not need to apply for economic aid from the European Union, Spanish Economy Minister Elena Salgado said on Monday.

"Portugal doesn't have to seek any type of rescue plan because it is meeting its commitments. From the point of view of the Spanish government, we're sure the meeting of commitments will be recognized," Salgado said during a radio interview.

Portugal is under pressure to take aid from the European Union and International Monetary Fund to stop the euro currency zone's debt crisis from spreading, a senior euro zone source said on Sunday.

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