Staff from the European Commission (EC), in
liaison with the European Central Bank (ECB),
undertook the eighth post-programme
surveillance (PPS) mission to Portugal between
4 June and 12 June 2018. The European Stability
Mechanism (ESM) participated in the meetings on
aspects related to its own Early Warning System.
PPS aims at a broad monitoring of economic,
fiscal and financial conditions with a view to
assessing the repayment capacity of a country that
has received financial assistance(1). While there is
no policy conditionality under PPS, the Council
can issue recommendations for corrective actions
if necessary and where appropriate. PPS is
biannual in terms of reporting and missions.