This requires a concerted effort in terms of economic and fiscal policies. In many countries of the euro area, current fiscal space to support growth is limited. We should avoid the fiscal rules being stretched to a point where they lose credibility.
In the case of Portugal, we welcome the fact that the Commission found that the 2016 draft budgetary plan was not in particularly serious non-compliance with the provisions of the Stability and Growth Pact. And we welcome the commitments of the Portuguese authorities to prepare additional measures which could be implemented when needed to ensure compliance.