Above is a letter to Portuguese Finance Minister Mário Centeno co-signed by European Commission Vice-President Valdis Dombrovskis and EU Economic Affairs Commissioner Pierre Moscovici, asking for explanations as to why the Portuguese government is planning to cut structural deficit by only 0.2% of GDP in 2016 – which, the Commission notes, is “well below” the recommended target of 0.6% of GDP. More below.
