Thursday, 19 June: According to “Jornal de Negócios” the state-owned companies involved in the so-called swaps case did not have the funds to pay a total of €835m to banks, forcing the government to renegotiate the contracts to avoid failing to meet the country’s targets for 2012 and 2013.
The Portuguese market was trading lower this morning, in line with Europe and the US, as investors react to last night’s statements by Fed chairman Ben Bernanke.
The privatisation of 95% of ANA, retaining the remaining 5% for employees, brought in €3.08bn to the state coffers.
Lonely Planet has chosen Porto as the best of 10 holiday destinations in 2013. The list included destinations its editors considered “hot spots” to visit.
At this morning’s auction of six- and 18-month Treasury bills, interest increased to 1.041% and 1.603%, respectively. This operation took place on the same day that the Ministry of Finance announced that a troika delegation will arrive in Lisbon on Monday.
Nicolás Maduro, the president of Venezuela, closed his official visit to Portugal late Tuesday with the signing of 14 bilateral agreements.
Wednesday, 18 June: “Diário Económico” reports that Europe is expected to release Portugal’s eighth bailout tranche on Friday, but EU and eurozone finance ministers meeting in Luxembourg are expected to postpone a decision on the extension of the loan maturities of Portugal and Ireland.
The credit rating agency said on Monday that Portugal should be able to achieve its revised fiscal targets for 2013 and 2014, as it expects its economy to stabilise until the end of the year.
Tuesday, 17 June: “Diário Económico” reports that the Portuguese and Finnish prime ministers have sent the European Commission and the European Central Bank a joint letter, to attempt to solve the problem of bank financing in Europe, mainly affecting small and medium-sized enterprises (SMEs).
“I believe it impossible to think of any other wine region anywhere in the world that has produced better wine in this year,” said British wine critic Jancis Robinson in relation to the Douro Valley.