5 May 2014
Portugal hopes of a ‘clean’ exit from bailout programme – Danske bank
FXStreet (Edinburgh) - Senior Analyst Flemming Nielsen at Danske Bank remarks Portugal might follow Ireland and not seek a precautionary programme from the ESM.
Key Quotes
“On Sunday the Portuguese government announced that it will choose a “clean” exit from its bail-out programme”.
“The implication of a clean exit is that Portugal might follow Ireland and not seek a precautionary programme from the European Stability Mechanism (ESM) and will rely solely on markets for financing after taking the final instalment of its bailout programme next month”.
“Euro area finance ministers are expected to formally approve Portugal’s “clean” exit from its bail-out programme in connection with today’s euro group meeting. The EU Commission is also scheduled to release its spring economic forecast today and the 1.2% GDP forecast for 2014 could be revised slightly higher”.
Key Quotes
“On Sunday the Portuguese government announced that it will choose a “clean” exit from its bail-out programme”.
“The implication of a clean exit is that Portugal might follow Ireland and not seek a precautionary programme from the European Stability Mechanism (ESM) and will rely solely on markets for financing after taking the final instalment of its bailout programme next month”.
“Euro area finance ministers are expected to formally approve Portugal’s “clean” exit from its bail-out programme in connection with today’s euro group meeting. The EU Commission is also scheduled to release its spring economic forecast today and the 1.2% GDP forecast for 2014 could be revised slightly higher”.