Portugal's finance minister warned Monday that the country is at high risk of needing to turn to the international community for an emergency bailout amid fears that the eurozone debt crisis will spread, according to the Financial Times.

“The risk is high because we are not facing only a national or country problem. It is the problems of Greece, Portugal and Ireland. This is not a problem of only this country,” said Fernando Teixeira dos Santos. “This has to do with the eurozone and the stability of the eurozone, and that is why contagion in this framework is more likely."

His comments came as Ireland's government continued Monday to deny reports that it made an application for an €80 billion EU bailout over its economic difficulties and EU statistics agency Eurostat revised Greece's 2009 fiscal deficit to 15.4 percent of gross domestic product.

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