Passos Coelho confirms more cuts on the way

As Euro elections loom and political mud-slinging reaches almost comic proportions, Portuguese Prime Minister Passos Coelho confirmed today (March 24) that the government was preparing more cuts, but denied these had anything to do with the “hidden agenda” alluded to by the Socialist opposition.
Opening the PSD parliamentary meeting in Viseu, he said: “We couldn’t be more transparent. Do the politicians who think there is a hidden agenda and who don’t want more cuts want a larger deficit?
“There are even politicians who say that debt levels over 60% should be paid over 60 years with very little interest. Does anyone really think a decision like that would be taken in Europe?”
Clearly not expecting an answer, Passos Coelho added that he still did not know the “absolute value” of the looming cuts – just that he considered further austerity better than deeper debt.