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Damning IMF report comes as Portugal’s deficit increases by 7 billion

As Eurostat reports that Portugal’s deficit has increased by 7 billion - tipping it six full percentage points over the government’s expectations - a damning new report commissioned by the IMF has concluded that austerity, when all is said and

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Spanish Bank BBVA cancels Portugal sale, blaming fallout from BES

Problems assailing the Grupo Espírito Santo and impacting on the country’s BES bank have prompted Spanish bankers at BBVA to pull-out of their much-publicised bailout from Portugal.

According to Spanish newspaper El Confidencial, BBVA has

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Shareholders sue PT over €900 million ‘lost’ in BES scandal

As the Attorney General’s office announces it has launched ‘various inquiries’ into the banking crisis within Grupo Espírito Santo (GES), news comes that as many as 50 shareholders in Portugal Telecom are suing over the communications giant’s €

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News from Portugal

Portugal’s disgraced BES bank chief and Deputy PM Paulo Portas travel to Angola in separate bids for financial support
Portugal’s disgraced BES bank chief and Deputy PM Paulo Portas travel to Angola in separate bids for financial support

Angola is the chosen destination this week of Deputy PM Paulo Portas, days after the disgraced former BES banking boss Ricardo Salgado allegedly travelled to Luanda in a bid for €1.2 billion worth of bailout funding for...

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Most popular news in the last 7 days

Body of young man found in Carvoeiro
Body of young man found in Carvoeiro
Algarve

The body of a young man in his 20s was found on Wednesday morning, July 16, near the rocky shore of the Algar Seco tourist spot in Carvoeiro.

Animal abusers face jail as new law is approved today
Portugal

It’s been hailed as a “big step forward” in the fight against animal cruelty – a draft law that criminalises animal abuse and abandonment cases was

Cars destroyed by suspicious fire in Portimão
Cars destroyed by suspicious fire in Portimão
Algarve

Portimão || A suspicious fire which destroyed four cars parked in Portimão in the early hours of Tuesday (July 15) is being investigated by the P

Controversial ‘green taxes’ in the pipeline
Controversial ‘green taxes’ in the pipeline
Portugal

Environment || A whole new batch of 39 ‘green taxes’, which if approved would lead to increases in the cost of everything from fuel and plane tic

Latest in Portugal Resident

Damning IMF report comes as Portugal’s deficit increases by 7 billion
Top Stories

As Eurostat reports that Portugal’s deficit has increased by 7 billion - tipping it six full...

Portugal’s disgraced BES bank chief and Deputy PM Paulo Portas travel to Angola in separate bids for financial support
Portugal’s disgraced BES bank chief and Deputy PM Paulo Portas travel to Angola in separate bids for financial support
Portugal

Angola is the chosen destination this week of Deputy PM Paulo Portas, days after the disgraced...

Health service shake-up as 102 job vacancies open in the Algarve
Algarve

It’s official: the management of the Algarve’s three basic emergency units in Loulé, Albufeira...

Ronaldo presents ‘100% Portuguese’ shoes
Ronaldo presents ‘100% Portuguese’ shoes
Companies

Portuguese football star Cristiano Ronaldo has branched out into fashion with the launch of ‘...

Algarve
Health service shake-up as 102 job vacancies open in the Algarve

It’s official: the management of the Algarve’s three basic emergency units in Loulé, Albufeira and Vila Real de...
Food
Seafood is king at Olhão’s ‘Festival do Marisco’
Seafood is king at Olhão’s ‘Festival do Marisco’

Olhão will be heaven on earth for seafood lovers this August. The town is currently getting ready to host the 29th...
Premieres (trailers)
Dawn of the Planet of the Apes

July 17, 2014

Directed by: Matt Reeves; Starring: Gary Oldman, Keri Russell, Andy Serkis ; Genre: Action |...
Community
Fantastic coup for ArtCatto's sculptor

ArtCatto has selected the works of sculptor Philip Jackson CVO DL MA FRBS FRSA to show at their Summer Exhibition...
Health
Parents may live longer than their children, say cardiologists
Parents may live longer than their children, say cardiologists

Warning || For the first time ever in the history of mankind, the current generation of children could actually...
Sport
New manager for Portimonense
New manager for Portimonense

Portimonense football club finally unveiled their new manager at a public presentation in the municipal stadium on...
Companies
Ronaldo presents ‘100% Portuguese’ shoes
Ronaldo presents ‘100% Portuguese’ shoes

Portuguese football star Cristiano Ronaldo has branched out into fashion with the launch of ‘CR7 Footwear’.

...
Motoring
Kia Carens - Right car. Wrong name.

By Guilherme Marques

The new Kia Carens has arrived in Portugal, one year after its European launch. Some...
Wine
Sauvignon Blanc and rosé from Monte da Ravasqueira
Sauvignon Blanc and rosé from Monte da Ravasqueira

I’ve yet to try any of the premium labels from this large Alentejo winery but my first experience of their sauvignon...