After a ‘miracle’ compromise by Portugal’s left wing government, its 2016 budget deficit and growth projections have been lowered. The European Commission had demanded from Lisbon a revision of its budget on Tuesday, 2 February. Lisbon obliged, but met the European Commission “half-way,” in fiscal terms. At an extraordinary meeting of the College of the European Commission on Friday, the Commission ruled that Portugal’s 2016 Draft Budgetary Plan is at risk of non-compliance with the provisions o...

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