Constitutional Difficulties; Portugal's Budget  

Oleh:

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Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 407 no. 8831 (Apr. 2013), page 49-50.
Topik: Bailouts; Foreign Aid; Economic Crisis; International Relations; Politics

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.76 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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A week ago Pedro Passos Coelho, Portugal's centre-right prime minister, faced the unpopular task of cutting public spending by EUR 4 billion ($5 billion) over three years to comply with his country's EUR 78 billion bail-out programme. Then, on April 5th, the constitutional court struck down previously planned cuts in public-sector pay, pensions and benefits. He now has to find cuts worth EUR 5.3 billion to keep the programme on track to end in May 2014. The court's ruling raises doubts over whether that is now possible: in effect, might Portugal need a second bail-out? Before Portugal can receive the next EUR 2 billion loan instalment, Mr Passos Coelho now has to persuade the European Union and the IMF that he can find the EUR 5.3 billion in cuts: a tall order indeed.

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