Wednesday, February 15, 2012

Olli Rehn on Portugal - exactly what he said for Greece. UK next?

Olli Rehn yesterday, quoted here:

“We are working together with Portugal in the context of the EU-IMF program, which Portugal is implementing effectively and which is on track,” Rehn told reporters today in Strasbourg, France. “I know that Portugal and the Portuguese people are facing major challenges, but it’s important that the country is showing political unity and resilience in order to overcome these challenges. The Portuguese people can trust that Europe stands by the Portuguese people.”

Update 0800 GMT Olli Rehn next pans to sort the economies of ten more EU countries according to EUobserver this morning, including the UK, read here, from which I quote:

....Belgium, Bulgaria, Cyprus, Denmark, Finland, France, Italy, Hungary, Slovenia, Spain, Sweden and the UK as in need for further "in depth" scrutiny of their macro-economic policies.

"If it turns out that imbalances exist and that they are harmful, this new tool is a meaningful step towards correcting the imbalances which built up over the years. Sound fiscal policies and early detection and correction of risky economic imbalances are necessary conditions to return to sustainable growth and jobs," EU economic affairs commissioner Olli Rehn said.

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