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Jornal de Negócios - Portugal | Thursday, January 22, 2015

Don't rush into repaying loans

Portugal has announced plans to pay back the 26 billion euros in bailout loans it received from the IMF. Finance Minister Maria Luís Albuquerque said last week that the country now had considerable liquidity reserves and its access to the capital markets was back to normal. The liberal business daily Jornal de Negócios is not convinced that this exemplary course of action makes sense financially: "Politically speaking the repayment plan is advantageous. It's another flag the government can wave in the run-up to the elections. ... But the financial arguments for this course are less clear: Portugal is copying Ireland again. With the difference that we have fewer savings. ... The director of the European Stability Mechanism, Klaus Regling, also recently voiced doubts about this option, which still needs the approval of Eurozone to be put into practice."

» To the complete press review of Monday, January 26, 2015

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