Author(s): European Commission Directorate-General for Economic and Financial Affairs
This report by European Commission staff provides an overview of the challenges faced by Portugal and the objectives and design of the economic and financial programme.
Following a request by Portugal on 7 April 2011, the European Commission, ECB and IMF negotiated an Economic Adjustment Programme, aimed at restoring confidence, enabling the return of the economy to sustainable growth, and safeguarding financial stability in Portugal, the euro area and the EU. The Programme was agreed by the European Council on 17 May 2011. It covers the period 2011-2014. The programme foresees comprehensive action on three fronts: a credible and balanced fiscal consolidation strategy, efforts to safeguard the financial sector and deep and frontloaded structural reforms too boost potential growth.
|ISBN 978-92-79-19332-3 (online)|
|ISSN to be announced (online)|
|doi: 10. 2765/16343 (online)|
Occasional Papers are written by the staff of the Directorate-General for Economic and Financial Affairs, or by experts working in association with them. The Papers are intended to increase awareness of the technical work being done by staff and cover a wide spectrum of subjects. Views expressed in unofficial documents do not necessarily reflect the official views of the European Commission.