Portugal counts days to end of bailout program.
In return for the 78 billion-euro ($107 billion) rescue that has since 2011 prevented national bankruptcy, Portugal consented to an economic crash diet: deep cuts in pay and pensions and welfare rights, steep tax increases, and an end to long-standing labor entitlements.
Countries which share the euro currency are eager for Portugal to show it is financially fit again. Its recovery would help the bloc draw a line under its debt crisis and open the door to growth that could have a beneficial knock-on effect around the globe.
With the eurozone's financial storm clearing, few reckon Portugal will need more cash, like Greece did. But if there are doubts over its ability to go it alone, the bailout creditors could decide to grant it a protective line of credit that would come with strings attached - more oversight and austerity. Bailout inspectors arrived on Thursday for their next-to-last assessment on the issue.
Read More: www.todayszaman.com/news-340080-portugal-counts-days-to-end-of-bailout-program.html