Portuguese Fiscal Adjustment an Example to Brazil, Says Vice-President Temer

04/22/2015 - 09h07

Brazilian Vice-President Michel Temer praised Portugal's response to the financial crisis on Tuesday (21), in an official visit to Lisbon. Temer said that he aims to take lessons from Portugal back to Brazil, where the government is trying to obtain support in Congress for a program of fiscal adjustment.

However, Temer's view on the way Europe has handled the financial crisis differs from that of President Rousseff and her predecessor Luiz Inácio Lula da Silva, who both took a more critical line after the crisis exploded.

Asked if the government had changed its view, Temer said that he was expressing "a very personal opinion." "I'm just saying that if it worked here," he said, "then I have no doubt that it would produce results in Brazil." He was visiting the Portuguese parliament.

Earlier, leaving a meeting with the Portuguese Deputy Prime Minister, Paulo Portas, Temer expressed confidence that Congress would approve the necessary fiscal adjustment, arguing that the measures are necessary for Brazil to grow.

However, he tried to highlight the difference between the current situation in Brazil and the difficulties that Portugal has faced in recent years. "Portugal went through a very difficult time. In our case, it hasn't been so difficult," emphasizing the fact that Brazil has achieved almost full employment. He admitted however that the country is facing "some difficulties."

In 2011, Portugal had to be bailed out to the tune of €78 billion. In return, it promised its creditors that it would implement a program of fiscal readjustment.

While there are some signs the economy may be recovering, the impact of these measures on the Portuguese population continues to be felt. At the end of last year, Portugal's unemployment rate remained at 13.5%.

Translated by TOM GATEHOUSE

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	Antonio Cotrim/Efe
	Brazilian Vice-President Michel Temer in Lisbon, during his official visit to Portugal