BREAKING: Portugal to ask for bailouts

From the New York Times:

Portugal’s caretaker government decided Wednesday that it would ask the European Union for a financial bailout, after months of resisting such a move.

“The government decided today to ask the European Commission for financial help,” Prime Minister José Sócrates said, according to The Associated Press.

During a televised statement, Mr. Sócrates told the country, according to Reuters, that the parliament’s rejection of additional austerity measures last month had aggravated the financial situation, ultimately making the request for aid “inevitable.”

Not long now before we find out just how married Germany is to the euro.