News Column

Bailout ends, work remains

May 19, 2014

LISBON: Portugal exited its e78 billion (R1 100bn) international bailout programme on Saturday, but the government warned that it was no time for euphoria.

Budgetary discipline and austerity policies will remain. The country has had severe pay, pension and job cuts in the past three years under International Monetary Fund and EU supervision. Portugal had overcome the crisis, "but there remains much to be done", said Prime Minister Pedro Passos Coelho.

Cape Argus

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Source: Cape Argus (South Africa)

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