by Calculated Risk on 4/06/2011 03:52:00 PM

It was just a matter of when ...

From Reuters: Portugal's Finance Minister: We Now Need EU Aid After All

"In this difficult situation, which could have been avoided, I understand that it is necessary to resort to the financing mechanisms available within the European framework," said Finance Minister Fernando Teixeira dos Santos.

Here is the 10 year bond yield from Bloomberg for Portugal. Everyone expected Portugal to ask for a bailout, but is this the last EU country to ask for help? That is a key quesiton.