THE PORTUGUESE PUBLIC DEBT Indebtedness of Portugal and the European Union

THE PORTUGUESE PUBLIC DEBT Indebtedness of Portugal and the European Union

"Portuguese public debt has been an obstacle to economic growth for several years. The degradation of the fiscal position has led to an escalation in public debt. Therefore, the sustainability of the Portuguese debt trajectory depends on our ability to achieve, in a lasting way, demanding but achievable targets, both in terms of growth and budgetary consolidation. More than discussing unrealistic, unfeasible and counterproductive debt restructuring scenarios, a broad reformist commitment to sustainable growth is required. Several issues arise around this argument, such as the dynamics of public debt in Portugal and Europe since the sovereign debt crisis, with emphasis on the current crisis, financing risk versus refinancing risk, instruments to manage times of crisis with high degree of uncertainty, analyze cost of finance/interest rates and GDP growth and European rules on debt sustainability. It is within the scope of these themes that this Conference fits.”