Passos

"We are living a moment of national emergency," Mr. Passos Coelho said.

Portugal Announces Cuts in Public Sector Pay Carla Canivete 2011

In a televised address, Mr. Passos Coelho said that public-sector workers and pensioners receiving more than €1,000 a month about $1,377 will see their Christmas and summer bonuses eliminated for the duration of Portugal's bailout program.

Portugal Announces Cuts in Public Sector Pay Carla Canivete 2011

Mr. Passos Coelho said the Portuguese government won't play an active role as a shareholder in banks that require help.

European Banks Face Recapitalizations Margot Patrick 2011

LISBON—Portuguese Prime Minister Pedro Passos Coelho on Thursday announced cuts to the compensation packages of public-sector employees in a bid to meet the terms of the country's bailout program from the European Union and International Monetary Fund.

Portugal Announces Cuts in Public Sector Pay Carla Canivete 2011

Late Sunday, Portuguese Prime Minister Pedro Passos Coelho said the €12 billion that was set aside to help banks recapitalize under the country's €78 billion bailout should be enough to address new requirements that could be part of Wednesday's agreement.

European Banks Face Recapitalizations Margot Patrick 2011

In a letter sent to Mr. Socrates and EU officials, Mr. Passos Coelho also asked the government to update state revenue and spending forecasts, which he said are outdated after the government revised its budget deficit data to a wider 8.6% of gross domestic product.

Portugal's Socrates Meets Opposition Over Bailout Terms Patricia Kowsmann 2011

Prime Minister Pedro Passos Coelho has been trying to distance Portugal from troubled Greece since he took office late last month.

Portugal's Debt Agency Slams Moody's Patricia Kowsmann 2011

Mr. Passos Coelho has repeatedly said the country is fully committed to implementing all the measures under the €78 billion $112.04 billion bailout agreed with the European Union, the International Monetary Fund and the ECB in May.

Portugal's Debt Agency Slams Moody's Patricia Kowsmann 2011

"What we don't need is skeletons in the closet when we know that they will have to come out over the next three years," said Pedro Passos Coelho, leader of the Social Democratic Party.

Portugal's Socrates Meets Opposition Over Bailout Terms Patricia Kowsmann 2011

"We have goals to meet, and we will meet them," Mr. Passos Coelho said.

Portugal Announces Cuts in Public Sector Pay Carla Canivete 2011