Portugal is “heading in the right direction, and it seems that all conditions are being met” said Vítor Constâncio, vice-president of the European Central Bank (ECB) on Thursday, 6 July.

Vítor Constâncio stated during a press conference that the international community, including the so-called troika, believes Portugal will meet its deadlines. The ECB official further added that Portugal’s international assistance programme is going well and now all depends on how the economy develops.

The former governor of the Bank of Portugal stated that the country’s reputation was positive, even referring to Portugal as a “good student”, and that this image had to be maintained before the international community and global markets.

Asking for an extension of the bailout programme deadline, which has insistently been proposed by the opposition and even voiced by ruling party PSD MP Miguel Frasquilho on Wednesday, would be frowned upon since it would “ruin” this image that Constâncio emphasises has to be maintained.