Proposal for a Council Implementing Decision amending Implementing Decision 2011/344/EU on granting Union financial assistance to Portugal

Upon a request by Portugal, the Council granted financial assistance to Portugal (Implementing Decision 2011/344/EU) in support of a strong economic and reform programme aiming at restoring confidence, enabling the return of the economy to sustainable growth, and safeguarding financial stability in Portugal, the euro area and the Union.

An extension of maturities and a reduction in the interest rate margin would be beneficial to secure the programme's objectives, in line with the conclusions of the Heads of State or Government of the euro area and EU institutions of 21 July 2011.

In order to enhance liquidity and sustainability objectives, this Decision should also apply to the tranches that have already been disbursed.

In light of these developments, Implementing Decision 2011/344/EU should be amended.

EUR-Lex: COM(2011)574: Follow the progress of this document through the decision-making procedure http://eur-lex.europa.eu/legal-content/EN/HIS/?uri=COM:2011:574:FIN

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