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Pedro Manuel Mamede Passos Coelho
After painful cuts, Portugal set to exit Eurozone bailout
After painful cuts, Portugal set to exit Eurozone bailout

Three years after it was forced to seek a humiliating international rescue, Portugal is set to become the latest Eurozone country Saturday to exit its bailout program and regain control of its finances amid a halting economic recovery. At the order of the foreign lenders who granted it a $107-billion rescue package in 2011, Portugal has imposed a series of harsh austerity measures that have boosted unemployment and shrunk its economy. But the government insists that it has succeeded in the drive to get its house back in order and that Portugal’s modest economic growth of the last year heralds a return to health. Prime Minister Pedro Passos Coelho is expected to convene a special...

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