Portugal begins a crucial stage in negotiations to set the terms of his bail, that a "very preliminary estimate" of the Commissioner of Economic Community Executive, Olli Rehn, estimated at 80,000 million euros over three years. Delegates from the International Monetary Fund (IMF), the European Commission and European Central Bank is in Lisbon to discuss the details, a day after a Finnish extreme right party, Authentic Finns, who opposes the bailout, gain weight in Nordic country after the elections yesterday.
The representatives of the institutions will meet in Lisbon Luso Finance Minister, Fernando Teixeira, with the aim of closing the deal in mid-May, to bring to the meeting of finance ministers of the EU (Ecofin) in the next 17 May. An urgent pact also admitted that because Portugal will be without funds for the normal functioning of the country in mid-June.
And hard, because it will force the government to pursue a strong fiscal adjustment, an ambitious privatization plan and a series of deep structural reforms, mainly in the labor market, which may not be well received by society and unhappy. Some analysts, according to the BBC, believe that the IMF will be more lenient with interest rates and the length of the loan that the European institutions, under pressure from voters opposed to lending money to help Portugal.
This is the case in Finland where the Finnish Authentic populist party, as opposed to any bailout in the Eurozone and a proponent of tough anti-immigration policies, swept the polls and weakened the government, as the third most voted political force. Anything less than an hour after learning the outcome of the elections, the leader of the formation, Timo Soini, and launched a torpedo treatment Portuguese: "The package is there, I do not last." A day after his victory, Soini has warned that "there will have to change 'European plans to build a financial stability mechanism.
Although it has not given details on what items should be modified, has stressed that it will enter a government to endorse the bailout because "the most important is that Finland did not pay for the mistakes of others." It is also crucial support from Germany, the richest country in the euro zone, and in fact, two Germans lead the EU delegation (Juergen Kroeger, European Commission and Rasmus Rueffer, European Central Bank).
Poul Thomsen, Denmark, leads the IMF mission. Lisbon also internal problems to seal the rescue, after Prime Minister Jose Socrates, resign on March 23 by rejecting the opposition in Parliament a proposal for an adjustment. The interim government now must gain the support of the main opposition parties, the Social Democratic Party (PSD) and Social Democratic Center (CDS).
The PSD leads the intention to vote in the Poll of preparation for the elections of June 5. Portugal is the third country in Europe need a bailout, after Greece and Ireland. A very weak economic growth and low productivity have brought the country in difficulty to deposit money through taxes to cover spending.
The financial crisis has complicated the situation with a debt rampant Portugal finally admitted on April 6 that he could not pay. 
The representatives of the institutions will meet in Lisbon Luso Finance Minister, Fernando Teixeira, with the aim of closing the deal in mid-May, to bring to the meeting of finance ministers of the EU (Ecofin) in the next 17 May. An urgent pact also admitted that because Portugal will be without funds for the normal functioning of the country in mid-June.
And hard, because it will force the government to pursue a strong fiscal adjustment, an ambitious privatization plan and a series of deep structural reforms, mainly in the labor market, which may not be well received by society and unhappy. Some analysts, according to the BBC, believe that the IMF will be more lenient with interest rates and the length of the loan that the European institutions, under pressure from voters opposed to lending money to help Portugal.
This is the case in Finland where the Finnish Authentic populist party, as opposed to any bailout in the Eurozone and a proponent of tough anti-immigration policies, swept the polls and weakened the government, as the third most voted political force. Anything less than an hour after learning the outcome of the elections, the leader of the formation, Timo Soini, and launched a torpedo treatment Portuguese: "The package is there, I do not last." A day after his victory, Soini has warned that "there will have to change 'European plans to build a financial stability mechanism.
Although it has not given details on what items should be modified, has stressed that it will enter a government to endorse the bailout because "the most important is that Finland did not pay for the mistakes of others." It is also crucial support from Germany, the richest country in the euro zone, and in fact, two Germans lead the EU delegation (Juergen Kroeger, European Commission and Rasmus Rueffer, European Central Bank).
Poul Thomsen, Denmark, leads the IMF mission. Lisbon also internal problems to seal the rescue, after Prime Minister Jose Socrates, resign on March 23 by rejecting the opposition in Parliament a proposal for an adjustment. The interim government now must gain the support of the main opposition parties, the Social Democratic Party (PSD) and Social Democratic Center (CDS).
The PSD leads the intention to vote in the Poll of preparation for the elections of June 5. Portugal is the third country in Europe need a bailout, after Greece and Ireland. A very weak economic growth and low productivity have brought the country in difficulty to deposit money through taxes to cover spending.
The financial crisis has complicated the situation with a debt rampant Portugal finally admitted on April 6 that he could not pay.
- Timo Soini's First Order Of Business: Torpedoing The Portugal Bailout (18/04/2011)
- Will EU save Portugal from default? (18/04/2011)
- Portugal's emergency loan - why 'bailout' is the wrong word (18/04/2011)
- Portugal’s bailout plan’s terms to be discussed today (18/04/2011)
- Recently came back - Viana Do Castelo, Portugal (27/03/2011)
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