Tag Archives: 'crisis'
“The programme has already ensured a broad reaching budgetary structural readjustment and the programme ensured a return to the financial markets far earlier than foreseen,” said Vítor Gaspar.
PDV caught up with the British author and local correspondent for the Associated Press who has called Portugal home for over 25 years, sharing his insight on the country, its people and what makes it worthwhile living here despite the centuries-old crisis.
The protest was organised by the activist movement “Que se Lixe a Troika” (Screw the Troika), which called for the minister’s resignation saying that “austerity is financial folly.”
António José Seguro declared before then accusing Prime Minister Pedro Passos Coelho of “deceiving the Portuguese” in binding the court’s rejection of four budgetary contention measures.
To compensate for the Constitutional Court’s rejection, Prime Minister Passos Coelho announced heavy cuts to social security, education, health and state-owned enterprises.
One of the senior members of the cabinet and Prime Minister Pedro Passos Coelho’s right-hand man handed in his resignation this Thursday.
The Socialist Party justified its no-confidence vote against the government in a letter addressed to the international bailout institutions, slamming the conclusions of the seventh quarterly review of Portugal’s adjustment programme and saying there is need to revise the memorandum of understanding.
As the government decides whether to move ahead with the sale of flag carrier TAP-Air Portugal this Thursday, interest rates on Portuguese bonds decreased due to less pressure on markets regarding the eurozone debt crisis.
In an interview with Portuguese television channel SIC, José Manuel Barroso dismissed the idea that he shares responsibility for the economic crisis in which Portugal finds itself.
The Organisation for Economic Co-operation and Development (OECD) doubts Portugal will be able to meet deficit targets agreed with the troika of international creditors.