Portugal's bail-out: First impressions

The source of this kind of information is typically the country that receives the fund, not the lenders of last resort.
So far, we hear from the Portuguese side:

– amount of bail-out: 78 bn euros (116 USD)
– required deficit cuts: 5.9% (2011), 4.5% (2012), 3% (2013)
– Portugal’s austerity plans before the bailout: 4.6% (2011), 3% (2012), 2% (2013)
– we do not have information about the interest rate, yet
– today the announcement only had little impact on Portugal’s 10 years bond yields

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