Portugal's bond sale boosts determination not to seek bailout

PORTUGAL HAS strengthened its determination not to follow Greece and Ireland in seeking an international financial rescue after successfully concluding a bond issue seen as a crucial test of the country’s ability to finance its debt.

The relative success of the auction, which was welcomed by the German government, helped to ease fears of a rapid spread of the euro zone debt crisis to Spain and other debt-laden economies on Europe’s periphery.

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