Spainish prime minister Mariano Rajoy: “We’re not responsible for the frustration of the Greek radical left, which promised what it could not deliver, as has been made clear.” Photograph: Andrea Comas/Reuters

They used to be fellow members of the group of highly indebted European nations known disparagingly as the “Pigs”. But a political fault line has open(...)

Pedro Passos Coelho: “The market conditions that Portugal has access to now are more favourable that those agreed on with the IMF and therefore we will save in the future by paying part of the IMF loan early.”  Photograph: Krisztian Bocsi/Bloomberg

Portugal plans to make an early payment of about €14 billion of its bailout loans from the International Monetary Fund after borrowing costs dropped, (...)

Portugal’s prime minister Pedro Passos Coelho. He said Greece must “respect its commitments” and comply with European rules like everyone else. Photograph:  Reuters/Rafael Marchante

Taoiseach Enda Kenny travels to Brussels tomorrow for meetings with the head of the European Commission and European Council amid increasing signs th(...)

The European commission has said it sees Portugal’s economy growing 1.3 per cent next year, slightly less than the government’s 1.5 per cent forecast

Portugal will cut its budget deficit to below the EU’s 3 percent of GDP threshold next year, its finance minister said on Tuesday, dismissing a higher(...)

“Those with deposits have reason to have every confidence in the security that Banco Espírito Santo offers their savings,” Portuguese prime minister  Pedro Passos Coelho said yesterday. Photograph: Reuters

Portugal’s prime minister Pedro Passos Coelho yesterday sought to calm customers of Banco Espírito Santo (BES) as the lender’s potential exposure to t(...)

Portugal’s prime minister Pedro Passos Coelho arrives at an informal summit of European Union leaders in Brussels. Photograph: Francois Lenoir /REUTERS

Portugal’s lenders cannot pay the last tranche of the country’s bailout until a rejection by the supreme court of a series of austerity measures is re(...)

Portugal’s Finance Minister Maria Luis Albuquerque listens to Pedro Machado, member of the board of directors of the European Investment Bank (EIB), during a recent European Union finance ministers meeting in Brussels. Photograph: Reuters

On Sunday evening Portugal’s Prime Minister Pedro Passos Coelho made a televised address, informing the Portuguese the country would exit its bailout (...)

As Portugal’s prime minister Pedro Passos Coelho addressed the nation on Sunday night, the government faced accusations of political manoeuvring. Photograph: Tobias Schwarz/Reuters

Six months after Ireland became the first country to exit an EU-IMF bailout programme, Portugal followed suit this week, announcing its intention to r(...)

Euro group president and Dutch finance minister Jeroen Dijsselbloem talks to the media before the euro zone finance ministers meeting in Brussels. Photograph: Julien Warnand/EPA

Portuguese bond yields fell sharply as markets digested Portugal’s decision to make a “clean exit” from the bailout, and euro zone finance ministers (...)

Prime minister Pedro Passos Coelho makes his statement on the bailout exit accompanied by his ministers at St Bento Palace in Lisbon yesterday. Photograph: Reuters/Rafael Marchante

Portugal is to follow Ireland’s lead an exit its EU-IMF bailout without the help of a precautionary credit line, prime minister Pedro Passos Coelho an(...)