Many economic experts agree that Portugal may be the next Greece. On Thursday evening, a senior European official seemed to confirm such fears. German Finance Minister Wolfgang Schauble was caught on camera offering Portugal "adjustments" to its bailout program.

German Finance Minister Wolfgang Schäuble speaking to the press
in Brussels on Thursday. Photo: AP.

First Greece and then Portugal? That is what many skeptics of Europe's handling of the ongoing debt crisis have long been saying. And on Thursday evening in Brussels, Belgium, they appear to have received high-level confirmation.

In a video clip apparently made without his knowledge at the meeting of euro-zone finance ministers, German Finance Minister Wolfgang Schauble told his Portuguese counterpart Vitor Gaspar that Berlin would be willing to make adjustments to the Portugal bailout package. It was the first time that a high level euro-zone official had admitted that such changes may become necessary.

"If then there would be a necessity for an adjustment of the Portugal (program), we would be ready to do that," Schauble says in the video, which was posted on YouTube and on the website of the Portuguese television station tvi24. Gaspar responds: "That is much appreciated."

The comments were made on the sidelines of the Euro Group meeting called to discuss the planned second bailout package for Greece worth €130 billion ($172 billion). Schauble made clear that the Portuguese aid package could only be revisited once a "substantial decision on Greece" is made and with the support of the German parliament.