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Frieden Sees Portugal Willing to Fulfill Euro Group Demands

July 9 (Bloomberg) -- Luxembourg Finance Minister Luc Frieden comments on Portugal’s new government and the disbursement of the next international aid installment to Greece.

He spoke to reporters before a meeting of European Union finance ministers in Brussels today.

On Portugal:

“I do think that the Portuguese government can make a fresh start. Not everything is in place yet, but I do think that the Portuguese government wants stability and that it is also willing to fulfill all that we in the euro group demand of Portugal.”

On Greece:

“Yesterday’s decision was the right thing to do because we are in a process and this process means that each side must honor their commitments. Greece has said that some things still have to be done. This will happen in the coming days, maybe even today. We on the other hand will continue to help Greece.”

“I think it’s about paying these 6.8 billion euros to Greece, as agreed, on the condition that Greece does its homework and Greece has done a lot in the last few months and in the last years. Some things still remain to be done.”

“We must make an effort to have fiscal consolidation and structural reforms at the same time. It’s important that we always see, also in our countries, that sound public finances are the basis for growth, but also, above all, that structural reforms are necessary.”

To contact the reporter on this story: Rainer Buergin in Berlin at rbuergin1@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net

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