4 Amendments of Nuno MELO related to 2013/2277(INI)
Amendment 206 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Notes that, even before the beginning at the beginning of the EU- IMF assistance programme, the Portuguese economy had suffered from low GDP and productivity growth for a number of years, and that this lack of growth, combined with the impact of the global financial crisis, had resulted in a large fiscal deficit and a high debt level, driving up Portugal’s refinancing costs in capital markets to unsustainable levels; notes in this context that in 2007 Portugal’s growth rate reached 2.4%, its fiscal deficit 3.1%, its debt level 62.7% and its current account deficit 10.2% of GDP, with the unemployment rate standing at 8.1%; and in 2010 it has registered a deficit of 9.8% of GDP, a growth rate of 1.9%, a level of public debt of 94% of GDP, the current account deficit of 8.7% of GDP and an unemployment rate of 10.8%, thus disclosing the present data, and in only 3 years, revealing a strong deterioration of the main economic indicators;
Amendment 210 #
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Notes that the Growth and Stability Programmes (PEC), presented by the socialist government between May 2010 and March 2011 - four programmes in only one year (PEC 1 in March 2010, PEC 2 in May 2010, PEC 3 in September 2010 and PEC 4 in March 2011) - were completely unsuitable to the reality and unable to cope with the structural and budgetary problems that Portugal had.
Amendment 211 #
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Points out that, as the international and national crises deepened, the four Growth and Stability Programmes presented by the socialist government between May 2010 and March 2011, shown successively and unrealistically, counter-cyclical, increasingly better projections. As an example, the forecast for the deficit in PEC 1, for 2013, was of 2.8% and in PEC 4, it was even more reduced, with only 2%. Conversely, for the year of 2012, the forecast of the deficit in all PECs was of less than 3%, however having been confirmed that the real deficit in this year was 6.4%, i.e. more than twice.
Amendment 212 #
Motion for a resolution
Paragraph 4 c (new)
Paragraph 4 c (new)
4c. Highlights that on January 21st 2014, in the European Parliament, the Commissioner for Economic Affairs, Olli Rehn, said that although the Portuguese adjustment programme had started in the summer of 2011, conversations had already taken place one year before, with the Minister of Finance of the Portuguese Socialist government, Teixeira dos Santos, about a possible economic and financial adjustment programme, taking into consideration the awareness that the Portuguese economic situation was becoming increasingly weak.