LONDON (MNI) – Portugal is managing to meet its funding needs in
the markets without any major problems, Portuguese Secretary of State
for Treasury and Finance Carlos Costa Pina has said here.
Speaking at a meeting hosted by Bloomberg, the minister said:
“We are making a huge effort in terms of fiscal consolidation and
we are also satisfying our financing needs in the market without major
difficulties.”
The minister expressed his confidence that his country could
achieve its fiscal plans, without hurting economic growth:
“We will do it again as we did in the past. We have a good track
record on that and we are in a good position to make that.”
“And I think it is possible to combine fiscal consolidation with
action on the budget deficit with economic growth,” he continued.
The minister noted that the markets are at present “dominated by
market irrationality” and said that Portugal is suffering the effects of
contagion along with other states.
He said that the European Central Bank was doing its job and that
he was confident it could do more if required:
“The ECB is doing what it is supposed to do…I also believe the
ECB is prepared to reinforce its role if necessary without prejudice to
price stability.”
–London Bureau; Tel: +442078627492; email: ukeditorial
[TOPICS: MT$$$$,MFX$$$,MFXBO$,MGX$$$]
