Skip to main content
Black Listed News

Portugal warns EU-IMF troika to back off on austerity demands

Published: January 6, 2013
Share | Print This


President Anibal Cavaco Silva called for urgent action to halt the “recessionary spiral”, warning Europe’s leaders that the current course had become “socially unsustainable”.

In a speech to the nation, he said Portugal would “honour its international obligations”, but in the same breath called for a tough line with the European Union-International Monetary Fund Troika over the pace of fiscal tightening under Portugal’s €78bn (£63bn) loan package. “We have arguments, and we should use them firmly,” he said.

“Fiscal austerity is leading to declining output and lower tax revenue. We must stop this vicious circle,” he said, cautioning the Troika that there would be no way out of the crisis until policy was set in the interests of the “Portuguese people” as well as foreign creditors.

Read more

Share This Article...


Subscribe To Updates
Blacklisted Newsletter
Blacklisted Radio
Blacklisted Nation
On Twitter
On Facebook
The DoomCast
Podcasts on Demand
Podcasts on Spreaker
Podcasts on Youtube
Podcasts on iTunes
Podcasts on Stitcher
Podcasts on Tunein
Podcasts on Roku

Support Us
Donate Today!

Affiliates
Shop Amazon
Golden Eagle Coins
6 Dollar T-Shirts
DHGATE.COM
The Ready Store
Onnit Labs
Audible Audio Books
Blue Host




BlackListed News 2006-2014