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15.11.201009:24:00UTC+00Portugal Needs to Exhibit Tough Budget Execution : ECB s Costa

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  • ECB council member Carlos Costa today said that Portugal needs to convince markets it is serious about executing the 2011 budget and make it a part of a credible fiscal discipline strategy.
  • He added that  the draft 2011 budget was an "unprecedented" effort and its final approval later this month is key for investor confidence.
  • Costa reiterated that additional measures were needed to make public finances sustainable in the medium term.

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