Forex Asia News – Eurozone finance ministers approve a 78 billion euro bailout fund for Portugal

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EuroThe Eurozone finance ministers have approved a 78 billion euro bailout fund for Portugal. However this deal involved a condition that insisted that Lisbon private bondholders are to maintain their exposure to its debt.

The Eurogroup chairman Jean-Claude Juncker stated the in regards to the Greek debt issue a re-profiling is required while a large restructuring is not an option. Urgent measures are required in order for Greece to meet its 2011 fiscal targets with the Greek government having to be the first to acknowledge that and make extra effort. The chairman stated that nothing was discussed in regards to the situation of the IMF chief Dominique Strauss-Kahn but he expressed his deep sadness and disappointment of the scandal his friend was involved in , He did not comment on what position he is in regards to the incident stating that it’s up to American justice