Reuters – Europe needs to create a fund to finance solutions for future economic crises, Portugal’s Finance Minister Fernando Teixeira dos Santos said on Friday, a day after euro zone leaders reached a deal on potential help for debt-ridden Greece.
Although Portugal’s debt and the budget deficit are much lower than Greece’s, some investors see the Iberian country as the next weak link in the euro zone due its reduced competitiveness and growth prospects since the global downturn triggered its worst recession in decades.
