EU chief Rehn warns Portugal may need fresh bailout

Europe's economic and financial affairs commissioner Olli Rehn has warned Portugal may need a fresh bailout within a year.

Rehn said Lisbon, which has received a €78bn (£64.5bn) rescue package, is likely to need more public support before it can return to the bond markets next year, the Telegraph reports. "From the European Union side, it would be wise to be prepared. Some kind of bridge needs to be built when Portugal returns to the markets," the paper quotes him as saying. His comments came as Spanish bond yields leapt after an auction on Wednesday, raising fears over the stability of the country. Mario Draghi, president of the European Central Bank (ECB), said "sinner states" must execute their austeri...