European Commission President Jose Barroso said Portugal is doing a good job at carrying out structural reforms and reducing its budget deficit to overcome an “enormous challenge” after seeking a bailout last year.
“What Portugal has done so far, it has done well,” Barroso, a former premier of the Iberian nation, said today at a conference in Cascais, Portugal. The country “can count on the solidarity of its European partners.”
EU countries that show the most determination in responding to the debt crisis will receive the greatest support from the European Union, said Barroso. “Nothing can replace the effort of each country in response to its own difficulties,” he said.
Barroso’s comments came before elections in France and Greece that may challenge the euro area’s push to revive economic confidence by cutting budget deficits as the region’s economy slides toward its second recession in three years. Germany’s regional election is also next week.