Portugal bailout on track: international lenders
FRANKFURT (MarketWatch) -- Portugal's bailout program remains on track, the country's troika of international lenders -- the European Commission, European Central Bank and International Monetary Fund -- said Monday at the conclusion of a review of the nation's finances. "The need to combine fiscal consolidation with deleveraging private balance sheets while restoring external cost competitiveness remains a difficult balancing act," the troika said, in a joint statement. "But the authorities are determined to stay the course of adjustment and reform," they said. The troika said Portugal's goal of cutting its deficit to 4.5% of gross domestic product in 2012 remains within reach.