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International Monetary Fund

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This aid to the Portuguese debt has left in wet paper the classifications of those of measurement. Jean-Claude Trichet is sorry that those of qualification of risk they do not work of optimal way. Jean-Claude Trichet, president of the European Central bank (BCE), announced east Thursday, 7 of July, that will finance to Portugal. Although the qualification of " rating" on the part of the measurers from risk to Portugal it is under minimums, will accept like guarantee to give money the titles of sovereign debt. Trichet announced this decision in the press conference that followed the one of the Council of Government of the BCE to raise the types of interest in a quarter of point, until 1.5%. The markets can count, therefore, with these types at least until October, and plan in the mid term with this percentage. The decision of the advice of government of the BCE has in consideration that the Government of Portugal has implemented a program of negotiated economic and financial adjustment with European Comisin (EC), the BCE and the International Monetary Fund (the IMF).

This aid to Portuguese debt has left in wet paper the classifications of those of measurement, a decision that is having a very good welcome in the bags. The decision of the advice of government of the BCE has in consideration that the Government of Portugal has implemented a program of economic adjustment At the end of March, the BCE took the same decision with respect to the sovereign debt from Ireland and the year last with the one of Greece. On the other hand, Trichet stressed that the monetary organization is against the possibility of a selective non-payment of the sovereign debt of Greece. The agency of measurement of risks Standard & Poor' s has recently noticed that it will consider " non-payment selectivo" of the debt of Greece in case he ahead leaves the model proposed by the French banks so that the private creditors participate in the second it rescues financier to the country. Trichet was sorry that those of qualification of risk they do not work of optimal way and assured that works at international level to improve its operation, but that the situation is complex. Trichet added that " it would be ingenuous to think that we have the solution so fcil". Qualification until the bond sweepings the agency of Moody&#039 qualification; s decided to reduce Tuesday in four steps ' rating' of the debt of Portugal, from Baa1 to Ba2. Thus, the debt of Portugal is placed now to the level of " bond basura" , before " flood riesgo" of which the country luso fails to fulfill its reduction of the deficit and must request more aid.

Moody' s explained the reduction by the increasing risk to a second rescues to Portugal on the part of the European Union and the International Monetary Fund. The agency doubts that the Portuguese economy is able to reach their objectives of reduction of the deficit. This note reduction is first that undergoes the new Government luso that Pedro Passos Coelho heads prime minister, triumphant the past of the anticipated elections of 5 of June. Before this decision, the conservatives have shown their displeasure. Source of the news: The BCE will accept the sovereign debt lusa like guarantee for its financing