Wednesday, 31 October: Several Portuguese newspapers including Diário de Notícias, report that Prime Minister Passos Coelho revealed Tuesday in parliament the government’s Plan B demanded by the troika, announcing that a further slippage could lead to “contingency measures” of €830m, averaging 0.5% of national GDP.
«Budget debate: PS doesn’t close door on Passos, CDS insists on being proactive regarding the troika», reveals Público, as Prime Minister Passos Coelho said the revision of the constitution was vital to avoid a second bailout, in the opening of the budget debates that started Tuesday. According to the daily, although Socialist Party leader António José Seguro criticised the prime minister and said the proposal of a “refoundation” made clear that his policy had failed, he stated that he would collaborate if the assessment was done in a framework of “more economy and more employment” as well as “more time to stabilise” the economy and “less interest.”
Correio da Manhã
«Extra budget amendment of €830m», reports Correio da Manhã, as Prime Minister Passos Coelho announced Tuesday during the budget debate in parliament that the Plan B demanded by the EU-ECB-IMF troika to tackle slippages involves new cuts.
Diário de Notícias
«Passos admits Plan B for 2013 with cuts», writes Diário de Notícias, after Prime Minister Passos Coelho admitted Tuesday that the government’s economic previsions could fail. A further slippage, the daily reports, could lead to “contingency measures” worth €830m, reaching 0.5% of the national GDP.
Jornal de Notícias
«Chef Michel detained for tax evasion», reports Jornal de Notícias, as the French authorities issued a European warrant after accusing the 66-year-old celebrity chef, Michel da Costa, of tax fraud and money laundering between 2005 and 2007.
«31,500 seized goods sold by state», writes i, as about 80 seized homes are sold every day and the number of shares sold in commercial companies has already surpassed the values reached in 2011.
«Passos Coelho promises refoundation of memorandum even without PS », reports financial daily Diário Económico, as the Portuguese prime minister said at the opening of the budget debates Tuesday that he would go ahead with the refoundation of the agreement signed with the troika, even without the support of the Socialist Party.
Jornal de Negócios
«Passos Coelho’s Plan B will only stand recession up to 2%», reports financial newspaper Jornal de Negócios, as the EU-ECB-IMF troika demanded the Portuguese government come up with a Plan B consisting of further cuts to expenditure for 2013. According to the paper, the plan announced by the prime minister would only be sufficient to meet the country’s deficit target if the recession is of 2%, and not the 1% forecast by the government.
«I’m hungry for victory», writes A Bola, quoting Sporting’s new coach Franky Vercauteren, after his team was held to a goalless draw by Académica Monday, in the 7th round of the Portuguese League. The daily sports paper comments that “Vercauteren has already forgotten about the titles he won in Belgium”.
«It’s time to win now», reports Record, following Sporting’s defeat by Académica Monday. According to the paper, the “bad moment” has not crushed the ambition of Sporting’s new coach, Vercauteren.
«Many would want to be in my place», writes O Jogo, referring to Sporting’s new coach, Franky Vercauteren, hired after a disastrous beginning of season for the Lisbon club.