Portugal's caretaker prime minister Jose Socrates
Media playback is unsupported on your device
Video

Portugal asks for EU financial bailout

Portugal's caretaker Prime Minister Jose Socrates has said that he has asked the European Union for financial assistance.

Mr Socrates said the country was "at too much risk that it shouldn't be exposed to".

The government has long resisted asking for aid but last week admitted that it had missed its 2010 budget deficit target.

  • 06 Apr 2011
  • From the section Europe
Go to next video: Portugal raises money from markets