Clean break for Portugal

THE PORTUGUESE government will exit its international bailout without a line of credit to fall back on as a precaution, according to the country’s Prime Minister.

Pedro Passos Coelho made the announcement on Sunday in Lisbon, after media reports last week. The country will follow the Irish government’s example, leaving the programme agreed with the International Monetary Fund and European institutions without a safety net.

The so-called clean exit will take place on 17 May, bringing an end to just over three years of bailout support for Portugal.