The details of the bailout to Portugal began to be discussed today between Lisbon government and opposition parties and so-called 'troika', consisting of representatives of the International Monetary Fund (IMF), European Central Bank (BEC) and European Commission (EC), which are in Portugal for a week to analyze the real situation of the Portuguese public accounts.
During the next few weeks will have to reach an agreement on the austerity program implemented in Portugal, in exchange for financial assistance, estimated at 80,000 million euros. The starting point of negotiations is the fourth Plan Stability and Growth Pact (SGP IV), which was rejected by Parliament in March, prompting the resignation of José Socrates and sparking a political crisis that ended in the inevitable request for aid external.
Yesterday, the outgoing prime minister appealed for "responsibility" of the main opposition party, the Social Democratic Party (PSD), and called its leader, Pedro Passos Coelho, to set aside the "lust for power" and "electoral dispute," ahead of early elections being held in Portugal on 5 June.
"The country needs all the political leaders to focus on the defense of Portugal in this negotiation so demanding," said Socialist leader Jose Socrates, adding that he hoped never again to be "political sabotage." The first answer has been the Communist leader, Jerónimo de Sousa, making clear that his party "will not negotiate with the IMF" as the institution does not provide any "credibility" to "decide on the future of Portugal." Still, the Communists lusos, who aspire to be the third political force in the upcoming election, demanding the government and the presidency, "all information about the course of the negotiations." Jose Socrates has said that since it is the government "to lead the negotiations with international institutions", have defined an information model to the parties, who are asked to avoid "doing guerrilla to government for electoral reasons." Several politicians, from former President Mario Soares to the current EC President Jose Manuel Durao Barroso, has recommended lusos party leaders to put aside their ideological differences to achieve the best possible conditions in negotiating the ransom, which could be hurt by the growing political tension caused by the proximity of the election.
For now, many economists believe the aid package proposed by the IMF is more advantageous for Portugal to the European Commission raised since the Fund to grant aid in a longer time period of interest relief and not as damaging performance of the economy and its aggravating social lusa, such as unemployment or lack of growth.
In the Spring Newsletter, the IMF predicts that Portugal is the only country in the Euro Zone will be in recession next year, with record unemployment of more than 12%, estimates it could be even more negative, as they were made before that Portugal has applied for assistance. 
During the next few weeks will have to reach an agreement on the austerity program implemented in Portugal, in exchange for financial assistance, estimated at 80,000 million euros. The starting point of negotiations is the fourth Plan Stability and Growth Pact (SGP IV), which was rejected by Parliament in March, prompting the resignation of José Socrates and sparking a political crisis that ended in the inevitable request for aid external.
Yesterday, the outgoing prime minister appealed for "responsibility" of the main opposition party, the Social Democratic Party (PSD), and called its leader, Pedro Passos Coelho, to set aside the "lust for power" and "electoral dispute," ahead of early elections being held in Portugal on 5 June.
"The country needs all the political leaders to focus on the defense of Portugal in this negotiation so demanding," said Socialist leader Jose Socrates, adding that he hoped never again to be "political sabotage." The first answer has been the Communist leader, Jerónimo de Sousa, making clear that his party "will not negotiate with the IMF" as the institution does not provide any "credibility" to "decide on the future of Portugal." Still, the Communists lusos, who aspire to be the third political force in the upcoming election, demanding the government and the presidency, "all information about the course of the negotiations." Jose Socrates has said that since it is the government "to lead the negotiations with international institutions", have defined an information model to the parties, who are asked to avoid "doing guerrilla to government for electoral reasons." Several politicians, from former President Mario Soares to the current EC President Jose Manuel Durao Barroso, has recommended lusos party leaders to put aside their ideological differences to achieve the best possible conditions in negotiating the ransom, which could be hurt by the growing political tension caused by the proximity of the election.
For now, many economists believe the aid package proposed by the IMF is more advantageous for Portugal to the European Commission raised since the Fund to grant aid in a longer time period of interest relief and not as damaging performance of the economy and its aggravating social lusa, such as unemployment or lack of growth.
In the Spring Newsletter, the IMF predicts that Portugal is the only country in the Euro Zone will be in recession next year, with record unemployment of more than 12%, estimates it could be even more negative, as they were made before that Portugal has applied for assistance.
- Timo Soini's First Order Of Business: Torpedoing The Portugal Bailout (18/04/2011)
- Will EU save Portugal from default? (18/04/2011)
- Portugal's emergency loan - why 'bailout' is the wrong word (18/04/2011)
- Recently came back - Viana Do Castelo, Portugal (27/03/2011)
- Great surf holidays in Lisbon, Portugal!! - Cascais, Portugal (14/04/2011)
No comments:
Post a Comment