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Portugal will stay in the euro even if Greece leaves: Seguro

Friday, May 25, 2012 - 03:10

May 25 - The leader of Portugal's Socialist party, Antonio Jose Seguro, says his country doesn't need additional funds from the European Union but does want easier budget goals.

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Portugal will stay in the Euro even if Greece leaves it needs more time to meet its budget reduction targets. In an interview with Droid -- is Antonio Jose secured a leader of the Portuguese opposition Socialist Party. Also issued a blunt message to German Chancellor Angela Merkel. Stop ramming austerity down the throats of the -- to -- nations or risk destroying the European project entirely. Doesn't support has -- conditions stay in the -- unlock even if schools he said Portugal should be given one more year to meet the budget goals agreed under the terms of its bailout beyond 2013. When the country is expected to attend to financing itself and bond markets. Portugal is currently the second most risky country in the -- off decrease in terms of bond spreads. Secure -- said he did not believe Portugal would need more bailout funds something most economists think will in fact be necessary. We can you know not known but asks. And subtle I don't think it is innocent. And tentatively slotted into walls and it's there's a man put his money available personal it would be our toughest people simple and just read our program a lot to his apartment need to do -- on the subject. And business we have been talking about one point seven billion viewers that's you know Irish. The ruling center right social Democrats have ruled out any extension of bailout goals or more money secure -- said that his party stands by the terms of the buyout. But austerity must be softened to prevent the country's recessionary spiral from worsening. And to achieve that budget goals should be extend it. Under its bailout Portugal should post a budget deficit of four point 5% of gross domestic product this year. Compared with four point 2% a gold reached only thanks to one off measures. Next year it must be cut to 3%. Official from the European Commission the European central bank and the IMF also known as the troika. A currently in Portugal for a quarterly review of the economy. The latest opinion poll -- security Socialist Party commander around 25%. Support. Secure added that the recent election of French president -- while -- had changed the terms of the debate on how to resolve the eurozone crisis. Security said the crisis in Europe should be blamed on Germany -- its insistence on austerity without trying to resolve problems such as unemployment in the south. That it won't consider medical gonna dismiss -- local did not -- destroys your mental problems than they're totally clintons are all learned that it doesn't -- that contributes since his security said he had no doubt that political stability would be maintained in Portugal. And he did not think the center right government would fail to set out his term which ends in 2015. Political stability is seen as an important -- -- that would allow the country to ride out its debt storm. Security stressed that the socialists would do nothing to try to renegotiate the -- Out particularly if the sport the social policy tool up all its international commitments in the memorandum them inclusion with torn as to which are from its commitments and rules and -- -- -- Andy downs -- -- if obviously to many times as necessary.

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Portugal will stay in the euro even if Greece leaves: Seguro

Friday, May 25, 2012 - 03:10