War climate prevailing within the European Union because of the attitude of the international credit rating agencies across the eurozone countries facing serious problems due to the debt crisis.
One in six European banks will not pass the financial strength of the EU banking sector, according to sources close to the situation said.
Despite rescue plan launched by the EU and IMF loans interest rates for the countries most affected by debt, Portugal, Ireland and Greece, have increased in recent weeks. And Spain is not any better off.
Portuguese Prime Minister Jose Socrates said his country has reached an agreement with the European Union and International Monetary Fund, on receipt of financial aid. Loan worth 78 billion euros will be granted for a period of three years, according to sources who participated in the negotiations, citing Reuters.
Last week the euro / dollar broke a record high since 2008, since the downward trend line 1.6036. This means that the euro / dollar long-term trend change, have tended to call.
Portugal have no money and fame Slovak.
EU summit: "we are willing to allocate 75 billion euros Portugal"
Economic and political problems in Portugal forced the country to seek financial assistance from the EU.
The Indian Foreign minister SM Krishna reading from a prepared speech read out a speech of the Foreign Minister of Portugal, making him a laughing stock at the United nations.