Sócrates: Bail-out is ‘last resort’

José Sócrates, Portugal’s caretaker prime minister, gave a televised address last night to request emergency financial assistance:

“The government decided today to ask the European Commission for financial help.

“I always said asking for foreign aid would be the final way to go but we have reached the moment. Above all, it’s in the national interest.

“I tried everything, but in conscience we have reached a moment when not taking this decision would imply risks that the country should not take.”