Eurogroup insists sanctions remain a “serious possibility” for Portugal

Despite reports that Portugal would get another year to meet Brussels’ deficit targets, the threat of economic sanctions for failing so far remains a “serious possibility”, Eurogroup president Jeroen Dijsselbloem has insisted today, adding that there are “serious reasons” for this. Quoting EU “rules and procedures”, Dijsselbloem countered his statements with the admission that finance chiefs would hear out the European Commission before making a final decision.

According to TVI24, Dijsselbloem also hinted that “penalties” beyond sanctions could be implemented.

The issue will reach crunch point in July, say reports.