Regling: Portugal’s competitiveness “at risk”
There is another critic of the Portuguese left-oriented government. Following the German minister of Finance, now it is the turn of the European Stability Mechanism managing director.
“We have to be very careful that the competitiveness that was won at great effort won’t be put at risk“, warned the managing director of the European Stability Mechanism. News agency Bloomberg explains the comments were delivered on Wednesday and embargoed for today at noon.
Klaus Regling criticized the left-oriented government’s reversals, mainly from the effects on debt interests. Ever since the new government took office in Portugal, in November 2015, the costs with public debt have increased – this was the main concern Regling brought forward to the journalists.
We have to be very careful that the competitiveness that was won at great effort … that this won’t be put at risk.
The managing director of the European Stability Mechanism said he is against the reversal of some reforms made by this government, such as on public sector pay cuts. “That is something that should be seen with concern,” Regling said.
