Arab Today, arab today portugal hints at need for more help after bailout
Last Updated : GMT 19:10:18
Arab Today, arab today
Arab Today, arab today

Portugal hints at need for more help after bailout

Arab Today, arab today

Arab Today, arab today Portugal hints at need for more help after bailout

Stockholm - AFP

Portugal\'s president Anibal Cavaco Silva on Tuesday hinted that his debt-ridden country may need fresh financial support after 2014, the year its current rescue package ends. On an official visit to Stockholm, Silva said he was \"convinced that Portugal will not need another bailout\". However, he added that under the terms of the 78 billion euro bailout ($105 billion), agreed in May 2011, Lisbon can receive further aid if necessary. \"It was decided a long time ago by the European Council that a country under intervention that complies with the programme that was negotiated will continue to receive support from the European institutions,\" he said. \"It could be the case, as it has been say, for Ireland. And it could be the case for Portugal.\" He added that under European Union rules, a country in financial difficulties such as Portugal could \"continue to have some kind of support if the country has difficulties to regain access to the markets\". \"But let\'s wait and see. I\'m not going to speculate.\" As part of the terms of the bailout, Portugal has imposed tax hikes and wage and pension cuts, aggravating a downturn that sent unemployment to a record 17.7 percent at the beginning of this year. At local elections on Sunday, the ruling Social Democratic Party suffered a stinging defeat at the hands of the opposition Socialists as voters showed their frustration with the austerity programme. Cavaco Silva has shown optimism over his country\'s economic prospects, saying in an interview with the daily newspaper Dagens Nyheter that his country had \"come out of the recession\". \"According to the latest indicators we have received it is possible the positive rate of growth will continue into the third quarter,\" he said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today portugal hints at need for more help after bailout Arab Today, arab today portugal hints at need for more help after bailout

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today portugal hints at need for more help after bailout Arab Today, arab today portugal hints at need for more help after bailout

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday