Ireland and Portugal set for debt deferral

Ireland and Portugal are to be given more time to repay their emergency loans with both countries seen as good pupils in following the imposed austerity programme.

An EU finance ministers meeting (ECOFIN Council) on the 5 March 2013 noted that 'both countries have taken successful steps to re-enter the markets'.

• Primary Source

Council of the EU, 05.03.13: Statement of Finance Ministers on the adjustment programmes in Ireland and in Portugal http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ecofin/135815.pdf

Deutsche Welle, 07.03.13: Standard & Poor's agency raises Portugal rating http://www.dw.de/standard-poors-agency-raises-portugal-rating/a-16654772

ESO: Background information: Eurozone crisis: Portugal protests against austerity http://www.europeansources.info/record/eurozone-crisis-portugal-protests-against-austerity/

EUObserver, 11.03.13: Portugal gets extra year to cut budget deficit http://euobserver.com/tickers/119359

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