Programme of Economic and Finantial Support for Portugal 2011-2014

The Memorandum of Understanding on Specific Economic Policy Conditionality, a document containing the economic policies agreed with the European Union and that many have dubbed the «Government Programme» for this and the next three years, was signed on 17 May by the Minister of State for Finance, the Governor of the Bank of Portugal and the European Commission1. In it very ambitious measures were set out, not only in terms of revenue collection and reduction of government expenditure, but also, it addressed the strengthening of competitiveness and State structural reforms in a number of economic sectors, which had already been provided for in some cases, but in others had not been contemplated.