Early estimates are in on the possible bailout of Portugal by the IMF and EU, and they suggest the country will need as much as $99 billion, according to Bloomberg, citing sources within the European Union.
This is a bit lower than the RBS estimate, cited at €80 billion ($113 billion).
European leaders have recently agreed to expand the region’s bailout fund, the EFSF to €500 billion, so it has the cash. But as more and more of the fund is drained by smaller states like Greece, Ireland, and Portugal, it starts to look less up to the task of helping, if needed, to support Spain and its troubled banking sector.
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