Portugal to Get EU Rescue This Month, Axa Investment Says

Portugal will accept a financial bailout “within the next few weeks” as the cost of issuing debt becomes unsustainable, said Axa Investment Managers, which oversees $714 billion in assets.

“The borrowing costs are just too high” for Portugal, Christopher Iggo, London-based chief investment officer for fixed income at Axa, France’s fourth-largest fund manager, said in a telephone interview two days ago. “Ireland and Greece had to go for a bailout once their borrowing costs got that high, so I fully expect Portugal to go within the next few weeks.”