EU finance ministers defend austerity

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By GABRIELE STEINHAUSER and PABLO GORONDI, Associated Press Gabriele Steinhauser And Pablo Gorondi, Associated Press – 1 hr 11 mins ago

GODOLLO, Hungary – European finance ministers on Saturday defended painful austerity measures as a necessary means to defeat the region’s crippling debt crisis.

Their meeting just outside Budapest will be followed by large union protests in the Hungarian capital against a recent deal to crack down on uncompetitive salary increases and unsustainable pension systems.

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To read the complete article, click here -> http://news.yahoo.com/s/ap/20110409/ap_on_re_us/eu_europe_financial_crisis

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Portugal finance ministry says aid from EU needed

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LISBON | Wed Apr 6, 2011 1:54pm EDT

LISBON (Reuters) – Portugal needs to resort to financial aid from the European Union, the finance ministry said, confirming an earlier report by Jornal de Negocios business daily, citing Finance Minister Fernando Teixeira dos Santos.

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To read the complete article, click here -> http://www.reuters.com/article/2011/04/06/us-portugal-debt-idUSTRE7351EQ20110406

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