Portugal's three main political parties have given their consent to a 78 billion euro bailout plan. Lisbon claims that the money promised to it by the EU and International Monetary Fund will be enough to help revive the country's crippled economy. Portugal's become the third Eurozone member to require a financial lifeline. Its caretaker Prime Minister says he had won easier terms than those imposed on Greece and Ireland. But although Jose Socrates said no drastic spending cuts are required, the Portuguese are fearful there'll be futher austerity measures. Dr. Eike Hamer from Mittelstands University of Applied Sciences in Germany, says if the bailout works, EU bureaucrats will control Portugal.
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