Portugal on way to regaining market access - Schaeuble

MANNHEIM, Germany Mon Apr 8, 2013 2:08pm BST

Germany's Finance Minister Wolfgang Schaeuble smiles as he addresses a news conference in Berlin March 25, 2013. REUTERS/Fabrizio Bensch

Germany's Finance Minister Wolfgang Schaeuble smiles as he addresses a news conference in Berlin March 25, 2013.

Credit: Reuters/Fabrizio Bensch

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MANNHEIM, Germany (Reuters) - German Finance Minister Wolfgang Schaeuble said on Monday that both Portugal and Ireland were on their way to regaining access to sovereign bond markets.

Portugal's government suffered a setback to its financial planning on Friday when the country's constitutional court rejected four out of nine contested austerity measures from this year's budget. The ruling seems unlikely to derail the bailed-out country's reforms.

"Ireland and Portugal are on the way to regaining market access, within the agreed timeframe of three years," Schaeuble said in a speech at the ZEW economic institute in Mannheim.

(Reporting by Paul Carrel; Editing by Noah Barkin)

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