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Feb. 20, 2012 / 2:14 PM

Portugal signals need for loan extension

LISBON, Portugal, Feb. 20 (UPI) -- The leader of the Socialist party in Portugal said the country needs an extension on its bailout loan from the international community.

"We affirmed our conviction that it is desirable that Portugal gets at least another year to consolidate its public accounts," said Socialist party chief Antonio Serguro.

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The Guardian of Britain reported Monday that Serguro could be calling for an extension in order to ease financial conditions in Lisbon, which would help his party politically.

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