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14.01.2011
Jose Socrates: Portugal do not need outside help to consolidate the finance
Jose Socrates: Portugal do not need outside help to consolidate the finance

Portuguese Prime Minister Jose Socrates said the country does not need outside help to consolidate the finances.

So, he says Portugal can independently "to do their job." Jose Socrates also said that the budget deficit this year will be much smaller than the past.

Such statements of the Government were due to the fact that Portugal was relatively well placed on the government debt market at acceptable interest rates. And they were significantly reduced, comparing to last year. These actions have allowed some to reduce market pressure on this troubled country eurozone. But at the same time, according to experts, Portugal for a long time "to go" to the crisis.

In this case, it is worth noting that according to experts successful sale of government bonds Portugal happened only because the European Central Bank carried out a massive buyout of Portuguese bonds, in order to support the country and defend it against attacks by speculators, the single European currency.

Also contributed to strengthen the position of the euro and some restored hope for financial stability in the euro zone statement about Japan's intention to acquire securities eurofunds notes www.europeunion.net

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