This week’s Eurozone agreement to remit 50% of the massive Greek state debt is “an absolutely unique and exceptional measure,” stated EC President Jose Manuel Barroso.
In an interview for Portugese paper Expresso, the European Commission chief said that this move is not to be repeated in the future.
Portugal, Barroso’s homeland, is among a string of EU member, including Spain, Italy, and Ireland, that was been gripped by a debt crisis that has threatened the stability of the euro.
“The Greek case is an absolutely unique exception. All governments committed to not resorting to such measures in the future,” stated Barroso in the interview.
Wednesday Portugese PM Vitor Gaspar vowed that no restructuring of Portugese debt is in order, as it will only bring more financial trouble to his country.
The European Commission President urged the Portugese government to keep on with austerity measures, saying this is the way to overcome the financial crisis.
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