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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/portugal-will-not-need-bailout.jpg"><img class="alignnone size-full" title="Portuguese finance minister Fernando Teixeira dos Santos said the country is taking steps to reduce debt (AP)" src="http://londonglossy.com/wp-content/uploads/2011/01/min-portugal-will-not-need-bailout.jpg" alt="Portuguese finance minister Fernando Teixeira dos Santos said the country is taking steps to reduce debt (AP)"/></a></p>
<p>Portugal&#8217;s finance minister has said that he does not expect his country will need a bailout to resolve its financial problems.</p>
<p>Fernando Teixeira dos Santos said in a radio interview that the government was taking steps to reduce the country&#8217;s high debt, which has worried markets and brought a potentially unsustainable surge in its borrowing costs.</p>
<p>&#8220;We have to be focused on doing all we can to avoid (a bailout),&#8221; he said.</p>
<p>He insisted that Portugal is still able to raise money on financial markets, even though its 10-year bond yields have recently reached euro-era records of around 7%.</p>
<p>He added that Europe was not doing enough to ensure the stability of the eurozone.</p>
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