Goldman Sachs Says Portugal Is Last Euro Nation to Seek Bailout

Portugal is likely to be the last euro region country to seek an international bailout after the government yesterday joined Greece and Ireland in seeking aid, Goldman Sachs Group Inc. said.

“We do not expect any other EMU sovereign to be in need of financial assistance,” said Francesco Garzarelli, Goldman Sachs’s London-based chief interest-rate strategist, in a report to clients. While Goldman doesn’t expect any “principal impairment” for bonds sold by Ireland and Portugal “a ‘voluntary’ extension of the maturity profile of Greek debt is likely.’”