BRUSSELS (MNI) – Portugal and Spain are not in the same situation
as Greece, European Central Bank President Jean-Claude Trichet said on
Thursday.
After Greece signed onto an aid package from the Eurozone and the
International Monetary Fund worth E110 billion over three years, markets
speculated that other high-debt countries such as Portugal and Spain
could need similar assistance.
“Greece and Portugal are not in the same boat,” Trichet said. “This
is obvious when you look at the facts and figures.”
At the same time, he said, “Portugal is one of the countries to
which the messages I have signalled are addressed. We expect all
countries to do what is [necessary]…take the appropriate decisions” on
budgetary consolidation.”
“But, once again, Portugal is not Greece,” he said. “I would say
Spain is not Greece,” he added, when challenged again on the subject
later.
“We constantly are calling for the implementation of the [EU
Stability and Growth) pact, with great, great determination,” he said.
–Brussels: 0032 487 (0) 32 803 665, echarlton@marketnews.com
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