EU welcomes Portugal’s bailout exit

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Eurozone finance ministers congratulated Portugal on Monday as Lisbon announced Sunday it would exit its three-year €78-billion bailout this month without a precautionary credit line.

“I would like to congratulate Portugal on the fact that they have taken this decision, that they have gone to the end of the programme in which they have done a lot of hard work at great expense, but also they are coming out much stronger. Economically they are doing quite well with high growth figures for the next couple of years. We will talk about their plans, then we will talk about a plan for a clean exit in the Eurogroup and I will tell you what the Eurogroup feels about that.” said Eurogroup President Jeroen Dijsselbloem.

Eurozone finance ministers also met on Monday in Brussels to discuss the economic situation in the euro area, including inflation and exchange rate developments; in-depth reviews of macroeconomic imbalances in euro area countries; France’s economic policy priorities; Germany’s updated draft budgetary plan; Greece’s and Portugal’s economic adjustment programmes; postprogramme surveillance in Spain; and the European Stability Mechanism direct bank recapitalisation instrument.

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