Portugal’s debt rising “by €14 million per day”

Bank crises, bailouts and top-level financial investigations are keeping the focus off another ball that is bouncing ever higher: Portugal’s public debt levels are rising by as much as €14 million a day.
The government’s plan, announced by ever-more pallid Finance Minister Maria Luís Albuquerque, is to close the year with a public debt level of 130.2% of GDP, but as financial journalists are now reporting, the first half of the year saw public debt running at 134%, and rising.
“It’s a rhythm of €14 million a day in the three months following values registered in March, when public debt was running at €220.68 billion, or 132.4% of GDP,” explains Pedro H. Gonçalves of Correio da Manhã, who puts the picture even simpler: “In other words, the weight of public debt on the country means that each citizen owes more than €22,000.”
“Even with the best estimates of the Finance Minister, public debt will continue well above the limit agreed with Brussels,” he added.