Failure to find a solution to the euro zone crisis could lead to the end of the European Union, Reuters quoted Portuguese Prime Minister Pedro Passos Coelho as saying in an interview published on Sunday.
"We have to find a response," to the crisis, (...)
The parliament of debt-ridden Portugal on Wednesday definitively approved a controversial austerity budget for 2012, even as protesters gathered in front of the parliament building, according to dpa.
The budget was based on principles agreed upon (...)
AlHijjah 28, 1432, Nov 24, 2011, SPA -- A general strike against the government's spending cuts on Thursday attracted a wide following in Portugal, dpa cited media reports as saying.
Public transport suffered widespread interruptions, while (...)
AlQa'dah 19, 1432, Oct 17, 2011, SPA -- Portugal's recession will deepen next year as the centre-right government adopts severe austerity measures to restore the economy to health under a 78-billion-euro bailout, the draft 2012 budget bill showed on (...)
The International Monetary Fund has released 3.98 billion Euros ($5.4 billion) as part of a three-year bailout
to Portugal, the IMF announced Tuesday.
The IMF will provide a total of 27.27 billion Euros of the 78-billion-euro bailout agreed with (...)
Portugal's unemployment rate dropped to 12.1 per
cent in the second quarter of the year, down from 12.4 per cent in
the first quarter, dpa cited the statistics body INE as saying Wednesday.
Unemployment fell more among women than among men, and (...)
Portugal is not likely to need another bailout, an
International Monetary Fund (IMF) representative said in Lisbon on
Friday, according to dpa.
Poul Thomsen said he was "fairly confident" this would not be
needed, as the IMF, the European (...)
The Portuguese parliament Wednesday debated the 2011 budget, which has been revised to reflect bailout terms as the new conservative government struggles to bring the budget deficit
under control, dpa reported.
Far-left representatives accused (...)
Portugal's prime minister on Wednesday set out to win the blessing of trade unions and business leaders for his government's planned labor market reforms, AP reported.
Portugal promised to reduce workers' entitlements, among other measures, in (...)
Portugal's prime minister has announced a new batch of austerity measures, including an additional tax on private income this year, as the country struggles to break free of its ruinous debt burden, AP reported.
Portugal's high debt load and frail (...)
Portuguese Prime Minister Pedro Passos Coelho on
Thursday stressed the need for urgent measures to tackle the
"unprecedented challenge" facing the country's economy, announcing a
new tax and the acceleration of his privatization programme, (...)
Portuguese politicians have decided to suspend the high-speed train link to Spain that would have been completed by 2013, UPI quoted officials as saying.
The Legislative Assembly of Portugal made the decision to suspend the estimated $4.7 billion (...)
The African Development Bank (ADB) on Friday
pledged $500 million in international aid to Tunisia and said it was planning to give another
$ 500 million by the end of the year.
The ADB was "the first institution to put money on the table" instead (...)
Portugal's main opposition conservative Social
Democratic Party (PSD) appeared bound for a clear victory in Sunday's
parliamentary elections, preliminary results showed, according to dpa.
The PSD had 42 per cent against 29 per cent for (...)
Portugal's caretaker government signed up to a 78 billion euro EU/IMF bailout on Thursday, warning its terms would push it into recession this year and next, according to Reuters.
Finance Minister Fernando Teixeira dos Santos confirmed what sources (...)
The European Union and the International Monetary
Fund (IMF) on Thursday announced a 78-billion-euro (116-billion-
dollar) bailout for Portugal, amid concern in the troubled
Mediterranean country over its social cost, dpa reported.
The EU was (...)
Portugal has reached an agreement with the European Union and the International Monetary Fund on a bailout package, Prime
Minister Jose Socrates announced late Tuesday.
A government source put the value of the package at 78 billion Euros ($115 (...)
The terms of an international bailout for Portugal may allow it to push back targets for cutting its budget deficit, a central bank official said on Monday, but a European Commission source said it was not clear that such a compromise was possible, (...)
Akhir 27, 1432 / April 1, 2011, SPA -- Portuguese President Anibal Cavaco Silva decided on Thursday to dissolve the parliament and call for elections on June 5. This is the outcome of the political crisis that started on March 23, when the five (...)
Akhir 27, 1432 H/April 1, 2011, SPA -- Portugal will continue seeking to raise funds on
international debt markets to guarantee that the state has sufficient
liquidity, the Finance Ministry said following a successful bond
auction on Friday, dpa (...)
Akhir 26, 1432, March 31, 2011, SPA-- Portugal on Thursday admitted that its 2010 budget
deficit was far higher than initially reported, increasing pressure
on the country to seek an international bailout, according to dpa.
The deficit was 8.6 (...)
Akhir 26, 1432 H/March 31, 2011, SPA -- Portugal's president met senior politicians on Thursday to decide when to hold a snap election following the resignation of the prime minister, kicking off a campaign focussed on a debt crisis that could lead (...)
Akhir 21, 1432 H/March 26, 2011, SPA -- Portugal's caretaker government could seek a bridging loan if the country's financial crisis escalates, the leader of opposition Social Democrats (PSD) said on Saturday, adding he hoped no bailout would be (...)
Akhir 19, 1432 H/March 24, 2011, SPA -- Market pressure on Portuguese debt mounted Thursday
in the wake of Prime Minister Jose Socrates' resignation, raising the
likelihood of the country seeking an international bailout, according to dpa.
The (...)
Akhir 14, 1432 H/March 19, 2011, SPA -- Thousands demonstrated in Lisbon on Saturday to demand jobs, better pay and an end to austerity measures introduced by the Socialist government which is rushing to cut spending and avoid a bailout, according (...)
