Debt inspectors face dilemma over Portugal

Debt inspectors face dilemma over Portugal

By BARRY HATTON The Associated Press
Published Aug 28, 2012 10:59AM MDT
Lisbon, Portugal • Foreign inspectors faced a dilemma as they began assessing Portugal’s compliance with the terms of its financial bailout agreement Tuesday. Portugal has broadly abided by its commitments to slash spending and reform the economy in return for last year’s $98 billion rescue. But falling tax revenue due to a recession means Portugal is likely to miss its budget deficit target of 4.5 percent this year. That means the bailout lenders may have to grant Portugal more time to meet its...
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