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Partially translated from the German
At a joint press conference with Portuguese Prime Minister Pedro Passos Coelho in Berlin, Angela Merkel said: "We have talked about the situation in Portugal. I am extremely impressed with what the Prime Minister was able to report: Portugal has gone through a profound reform process, which was also associated with great burdens for the Portuguese people. Today we can say that growth is noticeable and that the economic data have improved and point in a very positive direction. This is also reflected in the development of interest rates on government bonds. I have expressed my greatest respect for what has been achieved.
The process of implementation of the programme will, of course, come to an end in the near future. We are going to do everything to support Portugal in its great task to create jobs and tackle youth unemployment. Germany has shown its bilateral support in providing loans to the business community for the fight against youth unemployment and for the development of the European financial framework. I also think it would be an important message if we were to reach an agreement over the Banking Union in the coming days."
Prime Minister Pedro Passos Coelho said: "The most difficult part of the crisis is behind us. We can be glad that we have instruments and institutions that are stronger and give an answer to the economic problems that we had in relation to government debt, but also in the area of economic development of different countries. Portugal has made a positive contribution to this: Two years ago we were at the beginning of the aid programme, now we are about to conclude it successfully. Chancellor Merkel and I have already had occasion to talk about the development of the Portuguese programme and about the prospects of completing this programme soon. I was able to highlight that we have managed to promote structural change in Portugal and that we have increased the attractiveness for foreign investment. We also have very positive growth prospects for this year and for the next few years - for sustainable growth and the creation of employment.
Secondly, we have managed to correct our finances. I think among all the programme countries, Portugal has achieved a good, with respect to the public deficit perhaps even the best, result. If we look at the structural deficit, we can also say that Portugal is already close to balance. So we now have good prospects for the completion of this programme. I had the opportunity to tell the Chancellor that the Portuguese government has not yet made any decision about how this exit will be carried out at this stage. But the fact that we do not have to ask ourselves whether we need a second programme is of course is a very positive sign.
"This is a decision for the Portuguese government", Merkel said, adding that she had "no doubt, and the prime minister also told me, that the opposition has acknowledged Europe's fiscal framework ... despite differences on some individual questions".
Full press release (in German)
Further reporting © Reuters