Tag Archives: 'austerity measures'

Crisis: Leading business figures pressure parties on ‘national salvation’ deal

Crisis: Leading business figures pressure parties on ‘national salvation’ deal

A group of leading business figures have drafted a manifesto appealing to the three largest parties in Portugal’s parliament to reach an understanding, acknowledging the “suffering” caused by austerity measures adopted by the right-of-centre coalition government.

Summer bulletin: Central bank gloomy on GDP, jobs

The summer economic bulletin estimated that gross domestic product (GDP) would shrink by 2% this year, compared to an original growth forecast of -2.3%, and 0.3% next year, while the earlier forecast for next year had been 1.1%.

Crisis: Coalition leaders’ meeting ends, talks continue

The conversations between the prime minister and leader of the PSD and the leader of the junior coalition party CDS-PP are to continue in an atmosphere that a government source described as “very positive”.

“Two surreal political days”, writes PDV editor Vítor Matos

Portugal’s government will fall, even if it limps on for a few days or weeks. The country is rushing towards the edge of the cliff and an abyss. The main members of the Government have chucked all the hard-fought successes of the last two years into the rubbish bin at the cost of the people’s suffering.

Austerity: Government delays holiday bonus until November

The government decided that the ‘Christmas’ payments made so far to public servants are to be considered as ‘Holiday’ bonus, meaning that it will not have to pay an extra month’s salary in June. It also announced a reduction on the limits of all budget programmes such as expenses with personnel, goods and services.

Interview: IMF defends broad consensus to cut public wages and social transfers

Albert Jaeger, who heads the IMF office in Lisbon, is still upbeat regarding the country’s bailout programme but Portugal still needs to rebuild full credibility, he tells PDV in an exclusive interview.

Protests: Thousands in the streets against austerity

Thousands took to the streets once again in Lisbon and other district capitals across Portugal on Saturday against the government’s increasingly harsh austerity policies.

Eurogroup: Latest tranche of bailout funding approved

The 17 eurozone member states formally approved the release of €800m under the framework of the Portugal’s bailout programme.Tuesday sees a meeting of the European Union Finance Ministers that is expected to correspondingly authorise a further €2bn in funding.

President: ‘Austerity obviously recessive’

The Portuguese president told Spanish leading financial newspaper ‘Expansión’ the EU and the ECB tended “to react too late”, adding that German Chancellor Angela Merkel should be “more consistent” in defending the single currency.

FT: EU officials claim Portugal bailout probably extended into mid-2015

In a piece reflecting the impact of austerity measures on recent elections, Financial Times Brussels correspondent Peter Spiegal draws special attention to Portugal, where he says the most unexpected shock has been for many European leaders.