Statement on Portugal by Olli Rehn, European Commissioner for Economic and Monetary Affairs, and Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF)
"We would like to express it firmly apoyo de la CE and he IMF allele economic program announced by the Government of Portugal with him he apoyo de los principales parties politicians.
The Portuguese economy is facing significant challenges and we believe that the bold steps being carried out will allow you to go in the right direction. The success of the program will require a truly national effort. The total financial assistance provided -78000000000 EUR - European Union and the IMF clearly indicate the commitment of the international community to help ensure that Portugal will succeed.
The program is based on three strong pillars. First, a set of pro-growth measures to make the country competitive and create jobs - especially for young people in Portugal. Second, a set of ambitious fiscal measures needed to reduce public debt and deficits, applied at a rate that is realistic and allows the time required Portugal to demonstrate the application of policies and restore market confidence. Third, a package of measures aimed at ensuring the stability of the financial sector in Portugal.
recognize that this program will require a major effort of the Portuguese people. In this context, we strongly support the intention of the authorities to protect the most vulnerable groups and ensure they are conducted in a socially balanced. One of the objectives of foreign aid provided to help reduce the social costs of economic change needed to build a better future for the country.
This is a defining moment for Portugal. There are still major challenges ahead. The Portuguese have shown many times before in history that are capable of overcoming the challenge. We are confident they will again - and we offer our strongest support. "
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