Portugal's caretaker Prime Minister Jose Socrates with German Chancellor Angela Merkel
In Brussels, Portugal's political crisis and uncertainty over the true scale of problems at Irish banks dominated a summit of European Union leaders that was designed to finally put an end to the region's crippling debt crisis.
An EU bailout of Portugal now seems inevitable. But at some point, EU taxpayers are likely to tire of bailing out nations like Portugal, which seem unwilling to curb their spending. Read more...