Vice President of the ECB does not rule out a second rescue for Portugal
Vice President of European Central Bank (ECB), Vitor Constancio said Tuesday that the possibility that Portugal will need a second international loan “must always be under evaluation.”
“Everything is always under review and depends on the evolution of specific situations in the financial markets,” said Portuguese speaking to reporters, published Saturday in the digital media portals.
Constantius, who was governor of the Bank of Portugal, participate in informal meetings of the Eurogroup finance ministers to be held this weekend in Copenhagen.
At the end of one of the meetings, the Portuguese leader praised the “new market environment in relation to European sovereign debt,” which he attributed to decisions made by governments on the consolidation of public finances and structural reforms.
“We have seen progress in all cases and now also in the case of Portugal,” he said.
Moreover, the recent played less pressure on the interests of the Portuguese government debt as an example that markets “perceive” that the country “is meeting the objectives” that are committed to the EU and the International Monetary Fund (IMF) .
Portugal signed in May 2011 a loan of 78,000 million euros to clean up public finances, which was provided to apply a severe adjustment program in their budgets and structural economic reforms.
Category: Money
