Another Europe News
Portugal’s deficit cutting timetable ‘to be eased’
http://www.euronews.com/ Portugal is reportedly to get more time to cut its budget deficit.
As part of Lisbon’s 78 billion euro bailout, inspectors from the ‘troika’ of lenders – the European Commission, European Central Bank and International Monetary Fund – are currently reviewing Portugal’s economy and bailout adjustments.
Reuters quotes sources involved in that review as saying Portugal is seen as making a good effort in the face of a wider European recession and so will be given an extra year, until 2015, to get the deficit below the required three percent of GDP.
“There’s a great adjustment effort, which is being recognised. There is a consensus (among the lenders) that the external setting has worsened and that Portugal needs another year to lower the deficit below three percent,” one source said.
Portugal’s finance ministry declined to comment.
The government had said it might need an extra year to narrow the deficit due to the worsening economic situation. Last month it downgraded its 2013 forecast to a GDP contraction of 1.9 percent from 1.0 percent.
The lenders had already eased Portugal’s deficit goals last year after tax revenues fell short, undermined by a slump in consumer demand and a rise in unemployment.
Lisbon’s current targets are to cut the deficit to 4.5 percent of GDP this year from last year’s 5 percent and then to 2.5 percent in 2014.
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Another Europe News
Myanmar ex-junta chief seeks political legitimacy on first Thailand trip as civilian leader
Myanmar ex-junta chief seeks political legitimacy on first Thailand trip as civilian leader
Fighting between Myanmar’s military and myriad rebel factions has spilled over the long border with Thailand, which hosts millions of refugees from Myanmar.
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US appeals court orders halt to Trump ballroom construction without congressional approval
US appeals court orders halt to Trump ballroom construction without congressional approval
The US Court of Appeals for the DC Circuit, which had allowed construction to continue while it considered the case, agreed with a lower court that such a massive White House overhaul required the explicit consent of Congress.
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Europe’s biggest debates on The Ring – EU’s security… at what cost?
As parliamentary activity pauses for the summer recess, we look back at some of the debates of the season. This special edition revisits some of the most pressing questions facing the EU: how should Europe defend itself in an unstable world, and how should it respond to conflicts beyond its borders?
READ MORE : http://www.euronews.com/2026/07/29/europes-biggest-debates-on-the-ring-eus-security-at-what-cost
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Latest news bulletin | August 5th, 2026 – Morning
Catch up with the most important stories from around Europe and beyond this August 5th, 2026 – latest news, breaking news, World, Business, Entertainment, Politics, Culture, Travel.
READ MORE : http://www.euronews.com/2026/08/05/latest-news-bulletin-august-5th-2026-morning
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Trump says deal to open Strait of Hormuz could come by Wednesday or Iran will get ‘hit very hard’
Trump says deal to open Strait of Hormuz could come by Wednesday or Iran will get ‘hit very hard’
Iran has tightened its grip on Hormuz and wants to control the strait and charge tolls, powers it did not exercise before the war began on 28 February.
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