Tag Archives: 'Greece'
Alexis Tsipras, leader of Greece’s radical left coalition Syriza, called for a European conference on sovereign debt of the kind held in London in 1953 to discuss Germany’s post-war situation.
Portugal may be expected to begin recovering over the course of this year according to a report released on Monday by the OECD.
IMF chief Christine Lagarde says Portugal’s adjustment programme, budgetary consolidation and structural reforms are on track. And she is confident the country will not follow in Greece’s footsteps.
The Portuguese government approved a plan to ask the troika of international lenders to have the national minimum wage increased to €500. The lowest remuneration stands below the eurozone average, lower than that of Spain and Greece.
Portugal’s prime minister insists that Portugal is not Greece but will fight for the principle of equality, at least regarding the European Financial Stability Facility (EFSF). Conflicting comments among government members has led the Communist Party to claim the government is in a “muddle”.
While admitting that Portugal’s situation is not as severe as Greece’s, President Cavaco Silva says Portugal must “argue its case” to get better bailout conditions.
The government says “Portugal is not Greece” but is alert to the “possibility” of discussing the principle of “equality of treatment”.
Portugal could benefit from the new bailout finance conditions that have been reworked for Greece.
Portugal was once more the EU member state with the third highest unemployment rate, after Spain and Greece. Eurostat also revised up the September figure released by the National Statistics Institute, which had been 15.7%.