Monday 20 January 2020

Portugal first country to ratify fiscal compact

PORTUGAL has approved the fiscal compact which aims to implement budget discipline in a bid to avoid further debt crises in Europe.

The country’s parliament made the move today.

It also approved the European Stability Mechanism – the long-term bailout fund which is also designed to avoid debt contagion.

A referendum on the fiscal compact will be held here on May 31.

Also in Business