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European economy commissioner Olli Rehn (Photo: European Commission)

EU warns Portugal, says bloc needs permanent crisis fund

The European Commission has warned Portugal it may need to take extra steps to cut its budget deficit this year, adding that the economic crisis has highlighted the need for a permanent fund inside the eurozone to help struggling states.

Speaking to journalists in Brussels on Wednesday (14 April), economy commissioner Olli Rehn said Portuguese government plans to reign in excessive spending and increase tax revenues were generally solid, but not without risk.

"If risks to the macr...

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European economy commissioner Olli Rehn (Photo: European Commission)

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