2 May 2014
Professor Pedro Martins, Professor of Applied Economics and lecturer on the Masters in Public Administration at Queen Mary, was interviewed on BBC Radio 4's Today programme this morning.
Professor Martins‘ interview focused on the three-year economic and financial adjustment programme of Portugal, which is coming to its end next month. This programme involved a package of 78 billion euros, provided by the European Union, the European Central Bank and the International Monetary Fund, and a number of measures in terms of fiscal consolidation, financial system stability and structural reforms.
Professor Martins argued that Portugal is likely to opt for a ‘clean exit’ from the current programme, implying no further financial support and no further conditionality, given the increasing confidence of financial markets in terms of the outlook for the Portuguese economy. Professor Martins also explained that, in his perspective, this likely successful exit – following the footsteps of the Irish Case - implies that the combination of structural reforms and austerity measures can deliver good results in terms of putting an end to the Eurozone crisis.
Listen to the interview here the interview takes place at 02:48:33 (available for 7 days).