Credit rating agency, Moody `s Investors Service, significantly reduced the level of Portugal because of its debt. Portuguese is the debt level in the category "junk" by the agency and Portugal will need another loan, before taking money from financial markets again.
However, Moody `s assessment is rejected by the Portuguese government which in a statement the agency said in its study and evaluation was not considering drastic measures and budget cuts in recent months taken from Lisbon. Even in the first quarter of this year, the agency Moody `cut rule assessment debt that Portugal, by attributing the need to reduce the amount of debt and poor prospects for economic growth.
For credit rating agency changed the categorization for Portugal from A1 to A3. It retained the rating on negative outlook, suggesting that it could be lowered further evaluation of the Portuguese debt. Even this situation prompted the main opposition party in Portugal to announce that will be opposed to government plans for huge savings.
The country's prime minister has warned that the country may face the need of an aid package from the outside. Portugal suffers from high levels of debt and facing great difficulties to avoid an international package as that given to Greece and Ireland.
Aid for Greece, Blid: Germany gives billions of euros
Germany will contribute billions of euros in payment of the fifth installment loan for Greece, data from the eurozone and the International Monetary Fund.
According to German tabloid "Blid" Greece will receive 12 billion euros in loans, of which 5:05 Gjermania.Banka billion from the German public "KFW" will make payment by submitting a written request from the government papers without citing sources.
Germany will thus provide more than half of EU aid, which amounts to 8.7 billion euros, while the IMF will contribute to a loan of 3.3 billion euros
Germany, the euro rescue in constitutional
Billion aid to Germany for the eurozone countries in financial crisis, are finally being put on the bank of legal proof.
German Finance Minister Wolfgang Schäuble, the Constitutional Court defended the aid package as necessary to guarantee stable international financial markets.
His opponents, Peter Gauweiler krisitiansocial politician and five professors of economics at the opening of discussions on the court in Karlsruhe, argued that the democratic control of the federal parliament is at risk. They have filed a lawsuit in Constitutional Court against German participation in the aid packages.
The judges made clear that they are interested in respecting the rules of the game law for charter and non-political definition of a financial right. Their decision is expected to be issued in autumn
