April 1, 2014 / 11:42 AM / 3 years ago

Euro zone ministers to discuss Portugal's exit from bailout on May 5

ATHENS (Reuters) - Euro zone finance ministers will discuss the best way for Portugal to fully return to market financing at their meeting on May 5, the chairman of the ministers Jeroen Dijsselbloem told a news conference on Tuesday.

Portugal will exit from its 3-year international bailout, which allowed it to borrow from the euro zone bailout fund rather than markets, on May 17.

Lisbon has to decide by then if it wants accompany the exit with a request to the euro zone for a precautionary credit line, in case market borrowing rates are still too high, or if it is confident it can fully return to market financing.

Portugal’s 10-year yields are at around 4 percent and five year borrowing costs are below 3 percent.

Reporting By Jan Strupczewski, Martin Santa and John O'Donnell

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