Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

Search of Air Algerie crash site continues

Read more

MEDIAWATCH

Sarkozy, Hollande and the scooter wars

Read more

MEDIAWATCH

Confusion online over Air Algérie flight

Read more

THE WORLD THIS WEEK

The World This Week - July 25th, 2014 (part 2)

Read more

THE WORLD THIS WEEK

The World This Week - July 25th, 2014

Read more

REPORTERS

Halal tourism on the rise

Read more

ENCORE!

Tunisia's Carthage International Festival turns 50

Read more

FRANCE IN FOCUS

WWI Centenary: the battle for Verdun

Read more

THE BUSINESS INTERVIEW

When big companies want to do good

Read more

  • In pictures: Debris and devastation at Air Algérie Flight AH5017 crash scene

    Read more

  • Kerry heads to Paris for new round of Gaza peace talks

    Read more

  • ‘No survivors’ from Algerian plane crash, says Hollande

    Read more

  • Paris bans new Gaza protest scheduled for Saturday

    Read more

  • Tour de France fans bring the ambience to the Pyrenees

    Read more

  • French families grieve for Algerian plane crash victims

    Read more

  • Protest against Gaza offensive turns deadly in West Bank

    Read more

  • Halal tourism on the rise

    Read more

  • LA Times wipes France off the map in air crash infographic

    Read more

  • Lithuania’s Navardauskas wins 19th stage of Tour de France

    Read more

  • French lawyer files complaint against Israel at ICC

    Read more

  • Ukraine names acting PM after Yatseniuk's shock resignation

    Read more

  • BNP to pay $80 million for defrauding Dept of Agriculture

    Read more

  • Deadly strike on UN shelter in Gaza Strip

    Read more

  • Pope meets Christian woman sentenced to death in Sudan

    Read more

Business

Eurozone finance chair predicts Portugal will avoid bailout

Video by Elena CASAS

Text by News Wires

Latest update : 2011-03-25

Luxembourg's Prime Minister Jean-Claude Juncker, who chairs the group of eurozone finance ministers, said Friday that Portugal will likely be able to avoid a bailout but added that if one is needed, €75 billion would be "appropriate".

AFP - Luxembourg Prime Minister Jean-Claude Juncker, who chairs the group of eurozone finance ministers, told a German radio [station] Friday that Portugal would be able to forego asking for financial aid.
             
"I do not think that Portugal will ask for financial assistance," Juncker told Deutschlandfunk in an interview.
             
The European Union leader acknowledged that the situation in Portugal was "very complicated" after Prime Minister Jose Socrates said late Wednesday he would step down after losing a parlimantary vote on austerity measures.
             
The resulting political uncertainty led two of the top international ratings agencies to cut Portugal's credit ratings by two points Thursday.
             
But "whoever is in power in Lisbon will have to know that budget targets must be strictly respected," Juncker said.
             
Socrates' austerity budget aimed to cut the Portuguese public deficit to 4.6 percent of national output this year, to 3.0 percent in 2012 and 2.0 percent in 2013.
             
Speaking Thursday at an EU summit in Brussels, Juncker had stressed that "Portugal won't be left exposed by its European partners."
             
Should Lisbon require assistance, he suggested 75 billion euros (almost $100 billion) would be "appropriate" -- but only "under strict conditions."
             
Juncker said Friday that it was up to the Portuguese government to decide if it needed aid.

 

Date created : 2011-03-25

  • PORTUGAL

    PM goes after austerity plan scrapped

    Read more

  • Portugal

    Portugal's debt rating downgraded

    Read more

  • ECONOMY

    Portugal denies bailout pressure, approves austerity measures

    Read more

COMMENT(S)