Tag Archives: 'i'
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.
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.
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).
Monday, 17 June: “Diário Económico” reports that in just three months, six state-owned enterprises handed over €545.6m to banks to cancel 38 high risk operations. According to the paper, all contracts, except for one made by rail infrastructure manager REFER, held potential losses until the end of their maturity.
Friday, 14 June: “Diário Económico” reports that the IMF report on the seventh quarterly review of Portugal’s bailout has raised doubts as to the execution of the government’s proposed reform of the state, as it only has until 15 july to come up with the necessary legislative changes to meet its agreement with the troika.
Wednesday, 12 June: “Diário Económico” reports that the amending budget has increased funding for the Lisbon Metro, Porto Metro and Refer train company, by around €1bn. However, the financial authorities admit that most of this money will go towards paying back speculative swap contracts which recently came to light.
Tuesday, 11 June: According to daily “Diário de Notícias”, Brazilian President Dilma Rousseff said that her country was very willing to expand its investment in Portugal, claiming that the economic relationship between the two countries should be taken to another level.
Monday, 6 June: Daily newspaper “i” reports that “the crisis also hits Elvas” the city where the official celebrations of Portugal Day take place this year. The paper also questions whether there are reasons for Portugal to celebrate amid the financial and economic crisis.
Friday, 7 June: In an interview with daily newspaper “Público”, Socialist Party leader António José Seguro said he would refuse to negotiate a debt relief for Portugal and that paying back the creditors is a matter of honour.
Thursday, 6 June: According to daily “i”, senior figures in the two coalition parties, PSD and CDS-PP, are now openly discussing the possibility of Portugal leaving the euro, blaming the European currency for being in part responsible for the problems the country is facing.