BRUSSELS (AP) - Germany's finance minister has been caught on tape telling his Portuguese counterpart that the country's bailout program may have to be revised once a second bailout for Greece has been agreed.
Wolfgang Schaeuble's comments, caught on tape at a meeting with other eurozone ministers, are the first acknowledgment from a high-level euro official that Portugal may need more time and money to get its economy back in track. The recording was later posted on YouTube.
Lisbon received a (euro) 78 billion bailout last April and has since fallen into a deep recession.
Schaeuble can be heard telling Portuguese Finance Minister Vitor Gaspar that "We need an adjustment of the program (for Portugal) after substantial decisions on Greece."
He added, "We would be ready to do it."