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Lisbon: Portugal's court has been a thorn in the side of Coelho's government (Photo: Marco Fedele)

Portugal's last bailout loan suspended

The conclusion of Portugal's €78 billion EU bailout programme has hit a last minute snag after the EU and the International Monetary Fund (IMF) suspended the country's final €2.6 billion loan.

The move follows a ruling by the Portuguese supreme court last Friday (30 May), which rejected as unconstitutional the government's plans to impose public sector pay cuts worth between 2 and 12 percent, as well as cuts to pensions and welfare benefits.

The decision leaves the Portuguese gove...

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

Lisbon: Portugal's court has been a thorn in the side of Coelho's government (Photo: Marco Fedele)

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

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