Portugal is to face austerity measures imposed by Brussels under threat of punitive sanctions, makin...
Portugal is to face austerity measures imposed by Brussels under threat of punitive sanctions, making it the first country to lose control over tax and spending policy as a result of joining the euro, says this morning's Daily Telegraph. The European Commission said yesterday that it was legally obliged to take action against Portugal after it emerged that the country's budget deficit was far above the 3% of GDP limit established by the EU's Growth and Stability Pact. The shock figures were announced by the new centre-right prime minister, Jose Manuel Durao Barroso, who accused th...
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