AFP, Lisbon :
Portuguese Finance Minister Mario Centeno pinned his colours to the mast, donning a green and red scarf as his countrymen lifted the European Championship trophy.
EU colleagues in Brussels congratulated him as he lauded the Seleccao’s final win over tournament hosts France in Paris.
But the Lisbon government had two reasons to celebrate-not just a maiden win at senior level but also one that will give tourism in the cash-strapped nation a much-needed shot in the arm.
Portugal is currently along with neighbouring Spain lobbying Brussels to spare both Iberian nations, hit amidships by the eurozone debt crisis, swingeing fines for overshooting official budget deficit targets.
The European Commission, the EU’s executive arm, must decide on sanctions of up to 0.2 percent of GDP over the next fortnight after Lisbon and Madrid were found not to have taken “effective action” to bring deficits back under the bloc’s limit of 3.0 percent of gross domestic product (GDP).
Portuguese Finance Minister Mario Centeno pinned his colours to the mast, donning a green and red scarf as his countrymen lifted the European Championship trophy.
EU colleagues in Brussels congratulated him as he lauded the Seleccao’s final win over tournament hosts France in Paris.
But the Lisbon government had two reasons to celebrate-not just a maiden win at senior level but also one that will give tourism in the cash-strapped nation a much-needed shot in the arm.
Portugal is currently along with neighbouring Spain lobbying Brussels to spare both Iberian nations, hit amidships by the eurozone debt crisis, swingeing fines for overshooting official budget deficit targets.
The European Commission, the EU’s executive arm, must decide on sanctions of up to 0.2 percent of GDP over the next fortnight after Lisbon and Madrid were found not to have taken “effective action” to bring deficits back under the bloc’s limit of 3.0 percent of gross domestic product (GDP).
