Last year the IMF/EU/ECB trinity of international lenders stated the Portugal bailout program estimated at about €78bn.Portugal received €48.8bn. The next installment is equal to €14.9bn. In February the lenders published a report on the current situation in Portugal . As a result, the Euro Commission concluded that despite multiple risks Portugal is on the right way to recovery. The path lies across austerity attended by tough reforms and benefit cuts. These measures may result in unemployment growth, recession and social protests.
According to the SRP Department of , EURUSD keeps forming wave C H1. The chart below reflects the probable succession of events:
