European Commission

MEMO

Strasbourg, 3 July 2013

Statement by the President of the European Commission on Portugal

The European Commission and I personally are following the political crisis in Portugal with very serious concern.

The initial reaction of the markets shows the obvious risk that the financial credibility recently built up by Portugal could be jeopardized by the current political instability. If this happens it would be especially damaging for the Portuguese people, particularly as there were already preliminary signs of economic recovery.

This delicate situation requires a great sense of responsibility from all political forces and leaders.

The political situation should be clarified as soon as possible.

We trust that Portuguese democracy will deliver a solution ensuring that the sacrifices the Portuguese people have made until now will not have been in vain.