{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Swedish FM blasts Portugal debt crisis; analyst' data-url='/boclips/videos/5c54c575d8eafeecae170572' data-video-url='/boclips/videos/5c54c575d8eafeecae170572' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nSwedish FM blasts Portugal debt crisis; analyst\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eGodollo1. Wide British finance minister George Osbourne arrives at venue for ECOFIN summit in Godollo2. Wide venue building 3. SOUNDBITE: (English) Anders Borg, Swedish finance minister:\"I mean we need to see a clear assessment from the...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eGodollo\u003cbr/\u003e1. Wide British finance minister George Osbourne arrives at venue for ECOFIN summit in Godollo\u003cbr/\u003e2. Wide venue building \u003cbr/\u003e3. SOUNDBITE: (English) Anders Borg, Swedish finance minister:\u003cbr/\u003e\"I mean we need to see a clear assessment from the IMF and the Commission of the situation in Portugal. Of the programs that have been put forward, but also of the situation in the financial sector. When those assessments have been done, and when you can see a clear political agreement where both government and opposition in Portugal is supporting a program, then we could have discussions. We are at the beginning of the long road and we lost thousands of jobs in Portugal and thousands of jobs in Europe, due to the gridlocks in Lisbon.\"\u003cbr/\u003e4. Close of EU and Hungarian flag\u003cbr/\u003e5. SOUNDBITE: (English) Anders Borg, Swedish finance minister:\u003cbr/\u003e\"The Portuguese have already made it more difficult for Ireland and Greece by this gridlock that has prolonged the crisis, I think now when we see progress in both Ireland and in Greece, they are going in the right direction.\"\u003cbr/\u003e(Question: Has contagion been contained for now?)\u003cbr/\u003e\"Well let's hope that. But this has been an ongoing crisis where lack of political responsibility has driven the markets.'\u003cbr/\u003e6. Cutaway of flags \u003cbr/\u003e7. Various of Governors of central banks of European Union countries and other officials arriving\u003cbr/\u003e8. Wide venue building \u003cbr/\u003eLisbon\u003cbr/\u003e9. Wide tilt down of Euronex building where Lisbon stock exchange is located\u003cbr/\u003e10. Screen with quotations outside Euronex \u003cbr/\u003e11. Wide of trading floor at Banco Carregosa (investment bank) in Lisbon \u003cbr/\u003e12. Close of Joao Leite, Head of Investment, at Banco Carregosa Lisbon \u003cbr/\u003e13. Wide of Joao Leite at computer screen \u003cbr/\u003e14. SOUNDBITE: (English) Joao Leite, Head of Investment at Banco Carregosa: \u003cbr/\u003e\"In terms of the bond market the rates are more or less at the same level: the 2 year, the 5 year or the 10 year bond, they're at more or less the same level so, there is no difference and we should not expect any difference in the next month.\"\u003cbr/\u003e15. Cutaway of employee working at computer screen \u003cbr/\u003e16. SOUNDBITE: (English) Joao Leite, Head of Investment at Banco Carregosa: \u003cbr/\u003e\"I think it should have been called the IMF or the European Stabilisation Fund some months ago. We would have avoided downgrades for the (Portuguese) Republic and for the Portuguese banks\"\u003cbr/\u003e17. Mid of employee at computer screen\u003cbr/\u003e18. Close of screen showing values for Portugal government bonds \u003cbr/\u003e19. SOUNDBITE (English) Joao Leite, Head of Investment at Banco Carregosa: \u003cbr/\u003e\"Well it's good for the Eurozone, it looks it's the last bailout, hopefully it's the last, and it's a relief for everyone that the problem is now solved.\"\u003cbr/\u003e20. Banco Carregosa analysts looking at computer screens \u003cbr/\u003eEurope's top financial officials said on Friday that debt-ridden Portugal will need around 80 (b) billion Euros (114 billion US dollars) in rescue loans and that negotiations over a full, multiyear bailout program will begin immediately.\u003cbr/\u003eHowever Swedish finance minister Anders Borg blasted Portugal over its debt crisis and said that Sweden needs to see a clear program for the country's financial recovery before it supports any EU bailout plan.\u003cbr/\u003eBorg also said that a clear political agreement between the government and opposition would be needed before financial help could be agreed.\u003cbr/\u003e\"We are at the beginning of the long road and we lost thousands of jobs in Portugal and thousands of jobs in Europe, due to the gridlocks in Lisbon,\" he said.\u003cbr/\u003eBorg blamed the political gridlock in Portugal for making the situation more difficult for Ireland and Greece by prolonging the crisis.\u003cbr/\u003eIn clear criticism of the political turmoil in Portugal, Borg told reporters, \"this has been an ongoing crisis where lack of political responsibility has driven the markets.\"\u003cbr/\u003eThe Head of investment Banking and Banco Carregosa in Lisbon said that Portugal should have asked for a bailout months ago.\u003cbr/\u003eJoao Leite said that would have avoided downgrades for the country and Portuguese banks.\u003cbr/\u003eHowever Leite said it was a relief the country's financial situation was being addressed. \u003cbr/\u003e\"It's good for the Eurozone, it looks it's the last bailout, hopefully it's the last, and it's a relief for everyone that the problem is now solved,\" he said\u003cbr/\u003ePortugal this week became the third country in the eurozone to request international help, after last year's multibillion rescue packages for Greece and Ireland from the European Union and the International Monetary Fund.\u003cbr/\u003eWhile a rescue of Portugal had long been anticipated and its cash needs can easily be met by Europe's existing financial backstops, the country's political situation - where a caretaker government is in charge until elections in early June - makes reaching a final deal more difficult.\u003cbr/\u003ePrime Minister Jose Socrates resigned late last month after opposition parties rejected unpopular spending cuts and tax increases that the government said were necessary to get the country's struggling economy back on track.\u003cbr/\u003eEU finance ministers, who are in Hungary for a two-day meeting to discuss Portugal's bailout, said on Friday that the economic adjustment program that accompanies the rescue loans will have to go beyond this, heralding difficult negotiations ahead.\u003cbr/\u003eEuropean officials hope that aid for Portugal will finally draw a line under the debt crisis that has crippled the continent for more than a year.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv 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