GODOLLO, Hungary, April 9 (UPI) -- Negotiations over international assistance for Portugal are bogged down over the size of the loan needed, official said.
Portugal, which requested international assistance this week, is seeking to keep the size of a loan as small as possible to get the country's finances stabilized through June, when a general election will choose a new government.
But Germany and the European Commission are looking for Portugal to commit to a long-term austerity package and bailout that will put Portugal's finances back on track, EUobserver reported Saturday.
EU Economic Minister Olli Rehn said the "responsible" move would be to give Portugal a full bailout now.
"I expect the ministers to also welcome the request … and begin negotiations on a fully fledged adjustment program with a full schedule of reforms and fiscal consolidation," he said.
Portugal, however, has asked only for a "bridge loan," a senior EU official said.
Germany said it was "adamantly opposed" to a short-term loan.
Financial leaders met for a preliminary meeting on Portugal's finances in Godollo, Hungary.
Before the meeting, Portuguese Finance Minister Fernando Teixeira dos Santos said, "We are hoping for a quick negotiation and committed to reaching an agreement as soon as possible, but this will be very demanding because of the political situation."
