Decision on bailout exit to be made ‘by Sunday’ – minister

Page created: Wednesday, 30 April 2014 9:03 GMT

Bailout  Clean Exit

Portugal’s cabinet office minister, Luís Marques Guedes, said on Tuesday that the government’s final decision on precisely how the country will exit its euro-zone bailout is to be taken at an extraordinary cabinet meeting and announced by Sunday.

On Monday, Portugal’s bailout exit is to be debated by Eurogroup ministers at their regular meeting in Brussels.

Speaking to foreign correspondents in Lisbon, Marques Guedes said he could not yet give a date for the cabinet meeting.

Like Ireland, he said, Portugal is being “prudent” and taking its time to decide whether to go for a ‘clean’ exit with no further institutional funding or to seek a precautionary credit line.

The prime minister, Pedro Passos Coelho, said at the end of March that the government would announce its decision on the matter after the conclusion of the 12th review by international officials of Portugal’s bailout progress, which is currently going on, and before Monday’s Eurogroup meeting.