RENEE MONTAGNE, host: NPR's business news starts with Portugal's pain.</s>RENEE MONTAGNE, host: The European Union has warned Portugal, enact tougher austerity measures and more economic reforms if you want a financial bailout. EU officials are meeting in Budapest today. Yesterday, Portugal formally submitted its request for a rescue, making it the third EU member state to require international help managing its finances. The EU is now discussing the size and conditions of the rescue.
European Union officials have told Portugal to enact tougher austerity measures and more economic reforms if it wants a financial bailout. EU officials are meeting in Budapest on Friday, a day after Portugal formally submitted its request for a rescue. It's the third EU member state to require international help managing its finances. The EU is now discussing the size and conditions of the rescue.