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Image header Agence Europe
Europe Daily Bulletin No. 10854
Contents Publication in full By article 32 / 34
ECONOMY - FINANCE / (ae) portugal

Eurogroup prepared to provide further aid if needed

Brussels, 28/05/2013 (Agence Europe) - If it wants and if it proves necessary, Portugal could be given more time to sort out its finances, said the head of the Eurogroup, Jeroen Dijseelbloem, in Lisbon on Monday 27 May, adding that the country has not made any request for this. At a press conference with the Portuguese finance minister, Vitor Gaspar, Dijsselbloem said that more time could be granted to deal with any economic vicissitudes that may arise. In parliament on Friday 24 May, the Portuguese prime minister, Pedro Passos Coelho, said it had not been ruled out that the government might need to ask for further easing for 2014. The country has been in receipt of international aid since May 2011, and has already had its budget target deadlines changed twice (in September 2012 and March 2013). Under its commitments to its lenders, Lisbon must reduce its public deficit to 5.5% of GDP in 2013, 4% in 2014 and below 3% in 2015. On 13 May, Lisbon was given the go-ahead by the rest of the eurozone for the repayment deadline on its loans to be extended by seven years. (SP/transl.fl)

 

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