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Reunião do Conselho no Palácio de Belém

President of the Republic held meeting of the Council of State

The President of the Republic presided at the meeting of the Council of State, which had the following topic as its agenda: “Perspectives of the Post-Troika Portuguese Economy, within the framework of an Effective and Broadened Monetary and Economic Union”.

The following communiqué was published at the end of the meeting:

1. The President of the Republic held a meeting of the Council of State today, for the effects and purposes of article 145, item e), second part, of the Constitution, with the following topic as its agenda: “Perspectives of the Post-Troika Portuguese Economy, within the framework of an effective and broadened Monetary and Economic Union”.

2. Following on a statement by the President of the Republic, the Council discussed the challenges that are being faced by the Portuguese adjustment process within the context of the reforms being carried out in the European Union and considering the Post-Troika period.

3. In the framework of the creation of a Banking Union, the Council analysed the setting up of supervising mechanisms for the resolution of crises and for guaranteeing bank deposits, a step of utmost importance to correct the current fragmentation of the Euro Zone financial markets.

4. The Council also discussed the perspective of the reinforcement of the coordination of economic policies and the creation of a financial solidarity tool for the support of the structural reforms of Member States, aiming towards the increase of competitiveness and sustainable growth.

5. The Council of State is of the opinion that the programme for the broadening of the Economic and Monetary Union must create the necessary conditions in order that the European Union and Member States are able to successfully face the calamity of unemployment which is afflicting them, and to regain the confidence of the people, ensuring an adequate balance between financial discipline, solidarity and incentive towards economic activity.