Portugal has been in great trouble for the past months having trouble with both their financial and political status. New York Times has reported that the government of Portugal has joined Greece and Ireland as some of the countries who have sought international financing after trying their best to recover their economy for months. The government of Portugal decided to pay higher rates to sell more debt. Having a history in borrowing money that has been unsustainable, the government decided to ask the help of the European Commission although they have considered this as their last recourse but since they do not have a choice, they are forced to ask for financial aid. It has also been reported that the president of the European Commission, Jose Manuel Barroso stated that the aid that the government of Portugal is asking will be processed as swiftly as possible while still following the rules that are implemented. Because of the present financial crisis that the country is facing, the banking executives of Portugal warned the government that they did not want any sovereign debts and urged the parliament to negotiate with the international lenders to make Portugal a partner to negotiate the loans.
It is really hard to look for someone who will finance you and your dream business. If such a great country as Portugal is having difficulty looking for someone who will support them and help them to be stable financially, it would be more difficult for small businessmen who are planning to have good business but fail to look for supporters.
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