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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