Portuguese Finance Minister, Fernando Teixeira dos Santos, has recently criticized the EU today before several European Union finance ministers in Brussels over delaying blueprints to bailout the European market and euro from its sovereign debt crisis.

This follows comments made by European finance ministers yesterday claiming that immediate steps to protect Portugal from the fiscal crisis was not needed, but rather focused in on an aid plan that will start in two years (2013) that will lend Greece $675 billion.

Meanwhile, bonds in Portugal, Greece and Italy have managed to slip for the second consecutive day, following Germany refusing to offer aid until European governments come up with new procedures in sustaining competitiveness for Europe.