LISBON, June 9 (Reuters) - Portugal’s bailout is over and will not be reopened by the rejection by the country’s constitutional court of a series of austerity measures, Prime Minister Pedro Passos Coelho said on Monday.
“The assistance programme was concluded on May 17 and I don’t intend to reopen it,” the prime minister told journalists.
The prime minister reiterated the country’s budget deficit goals of 4 percent of gross domestic product this year and 2.5 percent next year.
The constitutional court’s rejection of measures could risk the country’s budget goals because they have a fiscal cost of up to 700 million euros. The government is currently considering alternative measures.
Reporting By Axel Bugge