LISBON, July 11 Portugal must continue setting
an example to Europe in terms of its lauded fiscal consolidation
efforts despite serious risks to the adjustment process agreed
under the terms of an EU/IMF bailout, Prime Minister Pedro
Passos Coelho said on Wednesday.
"Above all, we cannot think that our problems should be
solved by others," he told parliament in his State of the Nation
address. "With our effort and participation we have to continue
giving an example to Europe, and we can tell it that we can
overcome difficulties and be responsible."
Passos Coelho said the centre-right government's austerity
efforts over the past year have already brought more favourable
financing conditions and there can be no veering off this path
while the country is still mired in "an unprecedented crisis".
He reiterated that the government will take all measures
necessary to meet its public deficit targets this year and next
and will come up with alternative measures after a top court
ruled last week against one of the austerity steps intended to
help Lisbon achieve the 2013 target.