Portugal decides on ‘clean exit’ from bailout

Otmane El Rhazi from Macro feed.

Portugal said on Sunday it would exit its three-year 78-billion-euro bailout this month without a precautionary credit line, as the country returns to growth after years of painful austerity and unpopular reforms.
The cabinet decision was announced by Prime Minister Pedro Passos Coelho in a televised address to the nation and means the country will no longer have to answer to foreign creditors after the bailout ends on May 17.
“The government has decided to exit the assistance program without turning to any kind of precautionary program,” Prime Minister Pedro Passos Coelho said, flanked by his entire government which met Sunday to make the decision.

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