‘European Central Bank refuses to ease Portugal’s programme’

Published on 19 February 2013

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During a European Parliament debate yesterday, ECB president Mario Draghi told countries they can "redraw" their adjustment programmes, but only within the financial limits agreed, discounting any possibility of providing additional funds to Portugal.
A few days before the start of the Troika’s seventh regular review of Portugal, António José Seguro, leader of the main opposition party (PS, socialists) sent a letter to group's three institutions - the ECB, the European Commission and the IMF.
He asked them to assess the true state of the country, and not simply stick to the terms of the bailout agreement.

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