The finance minister admitted in Brussels that there is “any disturbance to the markets’ view of the rupture in the negotiations with Greece as it is a” situation that has never been experienced before, “but considered that Portugal is much better prepared.
Speaking after a meeting of 18 ministers of the euro zone finance – already without the Greek delegation in the room – Maria Luís Albuquerque said “no particular concern about Portugal” with possible contagion effects, and reiterated that the country now has “a very comfortable financial cushion” for “several months”, which allows you to tackle even more difficult access to markets scenario.
The minister insisted that the current crisis has to do only with the fact that the assistance program for Greece expire on Tuesday without being possible terms – “because the Greek authorities unilaterally stopped negotiations” – and said that “not discussed the scenario exit (Greece) for the euro area “, stressing that” the Eurogroup continues to have 19 Member States “and Greece continues to be part of the euro, even though the meeting this afternoon was just 18.
“We reaffirm, of course, that Greece is a euro area member and that we are fully on the side of the Greek people and will continue to work with them and with the institutions to ensure that this whole process has as positive as possible outcome, “he said.
With regard to fears of a possible contagion of predictable market turmoil over the failure in negotiations between Greece and its creditors, Maria Luís Albuquerque indicated that there was at the meeting this afternoon, above all, a “A reminder of all that have been made progress” since the crisis and strengthened the resilience of the euro area, but admitted that the Eurogroup is prepared to take action if and when necessary.
“We are in a situation that has never been experienced before, and therefore it is expected that there is here some disruption in the markets. And what was agreed is that there will be a permanent monitoring and that, any time you need, the Eurogroup will reconvene to discuss what is on the table, to make the decisions that have to be made. Let’s say we’re all a little prevention to what is required, but there is nothing scheduled immediately for any of the next few days, “he said.
As for Portugal, insisted that it was not referred to any specific concern, nor the Government is concerned about the state funding level.
“We have a very comfortable financial cushion that gives us for several months and, therefore, in terms of market access, even if there were some disturbance, it would not have any consequence for the financing of the Portuguese State, because we have this ‘cushion’ and this reservation, “he said.
” In any case, what is important is to reiterate the number of instruments that exist and that are available, and reiterate the availability of the Member States and institutions to use these instruments if the situation globally justify, “he added.
Digital Diary with Lusa
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