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Portugal renounces last tranche of rescue loan

13.06.14 @ 08:51

  1. By EUOBSERVER

Portugal has taken the unusual step of renouncing a €1.7bn rescue loan from the

EFSM fund available until the end of June. The lenders had asked budget savings of an estimated €500m-€800m in return for the loan that the country’s constitutional court on 30 May ruled would breach the constitution.