Brussels: Plan B “will have to be implemented” by the Government (act.) – Official Business – Portugal

changed just one word, but with important consequences. The previous position of the European Commission was that, if necessary, Portugal would have to implement alternative measures of fiscal consolidation. The so-called “Plan B”, as already discussed. However, in a statement published today, Brussels no longer have any questions:. These measures even have to go forward

The subtlety in the word of the change was picked up by a journalist in Brussels that, press conference, asked Pierre Moscovici and Jeroen Dijsselbloem. The second hinted that there were differences, but the first was clear. “I explain the difference. The difference is that these measures must be implemented,” he said. “I’ll be in Lisbon on Thursday to discuss this with the finance minister and the prime minister,” he added, referring to his visit to Portugal, scheduled for the 10th of this month.

Portugal still at risk of not meeting the rules

The European Commission again refer to the Portuguese budgetary situation, adding that the executive António Costa assured to be preparing additional measures, if any deviation from the deficit targets for this year.

Having already said that Portugal was at risk to comply with the rules of the Stability and Growth Pact (SGP), Brussels said it had been “informed that additional measures are being prepared and that these measures will be implemented when necessary to ensure that the 2016 budget will respect the SGP “, you can read a statement sent a few minutes ago by the Eurogroup after the meeting this afternoon between the Minister of Finance of the Eurozone.

the Commission adds that again evaluate the Portuguese budgetary situation in the spring, “in the context of the steps of the excessive deficit procedure, based on the data validated by Eurostat.”

Brussels reconfirms thus their 11 position February, saying that Portugal is at risk of not meeting the rules of the SGP in 2016, as seven other countries in the single currency. Portugal is part of a group of countries which the Commission considers to be at risk of violating the rules of the SGP. These countries are Austria, Italy, Lithuania, Belgium, Slovenia and Spain.

So far, despite pressure from the PSD in Parliament, Mario Centeno did not reveal what kind of measures could be part of this plan B.

At the conference conference held at the end of the Euro Group, Pierre Moscovici, European Commissioner for economic affairs, also left a note on the structural deficit, which can be important for Portugal, if we recall the discussion of the last evaluation. “There is a group to ‘treat’ of potential GDP calculation method. We know that here and there there is dissatisfaction on the outcome [of this calculation],” he said Moscovici. At the last evaluation, there were significant differences in the way the Portuguese Government and the European Commission calculated the structural deficit. An indicator which is estimated relative to potential GDP of the country.

(updated news at 18h34, also changing the title and the start of it. The additional information relates to the answer Pierre Moscovici questions from journalists at the end of the Eurogroup press conference, which comes under a more aggressive position of the European Commission.)