BERLIN (MNI) – Germany will eye closely the economic assumptions
underlying the austerity and reform program for Portugal to be sure they
are realistic, Chancellor Angela Merkel said Thursday.
The moment has not yet come to pass full judgement on the program
agreed between Lisbon and the EU Commission, the European Central Bank
and the International Monetary Fund, Merkel said at a joint press
conference here with Hungarian Prime Minister Viktor Orban. Hungary
currently holds the rotating EU presidency.
“From the German side … we will most of all pay attention that
the underlying assumptions regarding economic growth and the
developments resulting from this are realistic,” Merkel said.
Portugal is to get financial aid of E78 billion from its Eurozone
peers and the IMF. In return the country has agreed on a far-reaching
austerity and reform program.
A German Finance Ministry spokesman said Wednesday that “as always,
it is important for the [German] government…that firm and strict
conditions be formulated.”
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
[TOPICS: M$$CR$,MGX$$$,M$X$$$,M$G$$$,MFX$$$]
