Portugal is no longer in breach of EU deficit rules, in a turn-around for the bailout state that symbolised broader economic recovery, the European Commission said on Monday (22 May).
“It’s really a very good and a very important piece of news for Portugal … for the Portuguese people”, Pierre Moscovici, the French commissioner, who is in charge of fiscal discipline, told press in Brussels.
He said Portugal’s deficit was forecast to stay below the EU target of less than 3 percen...
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Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.