Wednesday, 31 July: In a bid to make Portugal competitive and attractive to foreign companies, the PSD-CDS coalition is aiming to cut taxes drastically making the country a tax paradise like Holland and Luxemburg.
Troubled BCP bank racked up losses of €488m in the first half of this year and the bank’s President said that the financial institution would begin repaying its state bailout loan on schedule in 2014.
New legislation governing public sector workers, which also includes capping their unemployment benefit rights, still requires rubber stamping by President Aníbal Cavaco Silva. Public sector trade unions protest outside parliament.
Tuesday, 30 July: Fifteen thousand low-qualified State workers have two months in September and November to accept an amicable split with the Portuguese civil service and get benefits or be fired.
The Prime Minister has again insisted that Portugal needs a spirit of union and had admitted that the nation has a very high tax regime.
The second session of the legislature ends on Tuesday with the (guaranteed) approval of a confidence vote for the PSD/CDS-PP coalition government.
Monday, 29 July: As the effects of the Government’s austerity policies continue to bite, each Portuguese citizen will be €792 worse off this year because of soaring taxes and falling incomes.
Pedro Passos Coelho backs his Minister of Finance Maria Luís Albuquerque despite an ongoing furore over how much she may have known about swap financial transactions at state companies.
The Barack Obama administration announced late on Thursday that Robert A. Sherman will be the next United States Ambassador to Portugal.
President Aníbal Cavaco Silva will swear in the new secretaries of state on Friday who are the last names to be announced following the midweek government reshuffle.