"The European Central Bank threw Portugal a temporary lifeline on Monday by buying up its bonds, traders said, as market and peer pressure mounted for Lisbon to seek an international bailout soon.
A senior euro zone source said on Sunday that Germany, France and other euro zone countries were pushing Portugal to seek an EU-IMF assistance program, following Greece and Ireland, to prevent contagion spreading to much larger Spain, the fourth biggest economy in the euro area." Read more. "ECB Gives Portugal Temporary Lifeline, Traders Say"
William James and Jan Strupczewski
Reuters, January 10, 2011. Image by frederico stevanin / FreeDigitalPhotos.net.