Portuguese PM keeps faith with austerity

Report of a FT interview with Pedro Passos Coelho, Prime Minister of Portugal, November 2012.

He said that Portugal’s 2013 austerity budget may pose risks to the debt-laden economy, but the government was determined to stick to the recovery plan agreed with its international creditors.

Mr Passos Coelho’s ruling coalition received parliamentary approval on 27 November 2012 for its budget, which included steep rises in income tax and cuts in unemployment benefit.

ESO: Background information: Statement by the EC, ECB, and IMF on the Sixth Review Mission to Portugal http://www.europeansources.info/record/memo-statement-by-the-ec-ecb-and-imf-on-the-sixth-review-mission-to-portugal/

ESO: Background information: Merkel wants to 'bring hope' to Portugal http://www.europeansources.info/record/merkel-wants-to-bring-hope-to-portugal/

Portugal: Banco de Portugal: Economic Bulletin, Autumn 2012 http://www.bportugal.pt/en-US/EstudosEconomicos/Publicacoes/BoletimEconomico/Publications/bol_outono12_e.pdf

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