Portuguese opposition demands renegotiation with EU after loan to Spain.

Opera Mundi - Portugal's left-wing and center-left parties demanded on Sunday (June 10th) the renegotiation of the bailout plan signed with the European Union, after the bloc approved a loan of up to 100 billion euros to Spain without requiring macroeconomic conditions. Last year, the EU lent approximately 30 billion euros to the Portuguese government to balance public finances, but imposed a series of fiscal austerity policies that harm economic activity and penalize the population.

According to Antonio José Seguro, secretary-general of the Portuguese Socialist Party, the main opposition party, Portugal should seize the moment to demand the same treatment given to Spain.

The financial aid to Spanish banks represents "recognition by the EU that austerity is not the way forward," said the leader of the Socialist Party. "It is necessary for the EU to treat all member states equally. There cannot be first-class and second-class states," he stated.
José Gusmão, leader of the Left Bloc, stated that it was "incomprehensible" that the Portuguese government had already publicly announced that it would not request a review of the agreement. "There cannot be different treatment of eurozone members in similar situations," said Gusmão.

The government of conservative Pedro Passos Coelho said that a request for renegotiation is not justified for now, although it expects the same treatment. "I see no reason to ask for a renegotiation of the conditions," said the Portuguese Prime Minister. "We will be attentive to see how the specific program for Spanish banks proceeds."

"If there are any exceptional conditions that should be shared with the other countries receiving assistance, I have no doubt that they will be applied," added the Portuguese conservative leader, speaking to journalists after an official event. Passos Coelho argued that the aid to Spain will be granted to the banks, not to the Spanish state.