ECB President Mario Draghi warned Portugal on December 16 that the nation will probably be topic to a “transitional interval” austerity programme to ease its return to the markets when its present programme ends in June 2014, writes Público.
The Portuguese authorities has not formally dominated out a “clear exit”, corresponding to that undertaken by Eire, however will probably have to decide on between a brand new troika bailout programme, or a return to the markets with a “precautionary credit score line”.
In its editorial, Público writes that “Mario Draghi has pulled the rug from beneath Portugal” and accuses him of triggering an issue:
By ignoring ‘an Irish’ exit state of affairs at this early stage, Mario Draghi is sending a nasty sign to the markets. It signifies that even he appears to doubt that in six months Portuguese rates of interest might be at ranges that may make sure the nation’s peaceable return to the markets.
Factual or translation error? Tell us.