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Priceless Lisbon

The Portuguese capitals singular charms, however, are drawing an increasing number of visitors. The port city on Europes southwestern edge cant boast http://hodgeyblf.blogs.experienceproject.com/2717960.html the scale or variety of, say, Paris or London. What it offers is a small scale suited to walkers, a sedate pace of life, little crime and lots of history. The famously hospitable Portuguese are another asset, and the restaurants can lay on exceptional fish and seafood from the Atlantic. During the Age of Exploration 500 years ago, when Portugal led Europe out of the Mediterranean and established an empire spanning from Latin America across Africa to Asia, Lisbon was one of the worlds wealthiest cities. The massive 1755 earthquake so catastrophic that it helped change the course of western European thought destroyed many of the greatest go Lisbon monuments. Though the city swiftly modernised after Portugal joined the European Union a quarter century ago, it has retained an old-time attractiveness as well as a beguiling blend of people from the countrys former colonies in Africa, India and Brazil.
More: http://gulfnews.com/about-gulf-news/al-nisr-portfolio/tabloid-on-saturday/priceless-lisbon-1.1129155

http://efraindotu.hazblog.com/Primer-blog-b1/Baltic-Trading-Limited-Takes-Delivery-Of-Capesize-Vessel-b1-p3.htm style="clear:both">Portugal promises to stay course on austerity after court setback

That summary could describe the state of play in Illinois or Detroit , where battles over pensions are playing out in front of rapt and anxious audiences. But a similar plot line leaped forward today in Portugal, where the nations highest court has struck down a proposal to cut retirement benefits for public employees. ( Patricia Kowsmann of the Wall Street Journal has the full story here .) Reuters Portugals president, foiled on pensions. Portugal, of course, is one of the PIGS (Portugal, Italy, Greece and Spain), the countries hit hardest in the European debt crisis. The nation got a $107 billion bailout from the European Union and the International Monetary Fund in 2011, and the government of President Anibal Cavaco Silva is trying to demonstrate to creditors that it has put its financial house in order. According to Kowsmann, the government had proposed a 10% cut in pensions for retired civil servants whose monthly stipend topped 600, or about $820. (Six hundred euros a month is roughly half the average salary in Portugal, according to the OECD .) The cuts would have saved the government about $530 million a year.
More: http://blogs.marketwatch.com/encore/2013/12/19/portugal-court-nixes-public-pension-cuts/

Portugal passes bailout review, expects to meet 2013 target

The "troika" granted Portugal the 78-billion-euro bailout in May 2011, with the country obliged to undertake tax hikes and spending, benefit and wage cuts in order to unlock the funds. Portugal has so far received 71.4 billion euros of the bailout money it was promised. Portugal's centre-right coalition government hopes it can exit its bailout as planned in mid-2014 and return to financing itself fully in debt markets, just as Ireland is doing this month. But it has said it could request some sort of precautionary loan from creditors after the exit. "If the cuts to pensions are ruled out by the court, Portugal must quickly present a credible alternative or else its borrowing rate risks spiralling upward," Pedro Lino, an analyst at Forex trading broker Dif Broker, said earlier. The bailout terms have deepened an economic downturn triggered by the world financial crisis in 2008 and sent the jobless rate soaring to record 17.1 percent in the first quarter of 2013. But the jobless rate dipped to 16.4 percent in the second quarter as the country emerged from a two-and-a-half-year recession with growth of 1.1 percent.
More: http://news.yahoo.com/portugal-top-court-blocks-austerity-pensions-cuts-213046123.html

Portugal Is Turning The Corner, And Things Are Getting Better

"On the transition period, there will be a program adapted to the situation at money that period of time and we have to see what sort of shape this program will have," Draghi said. But Finance Minister Albuquerque and Deputy Prime Minister Paulo Portas said there were no plans for alternative measures. "We see no reason to presume that there will be negative decisions from the constitutional court," Albuquerque said. Portas said the "evaluation was positive" and Lisbon was likely to meet this year's budget http://deweydgkq.wordpressy.pl/?p=34 deficit target of 5.5 percent of gross domestic product. Portas also said the country would meet its fiscal targets until the end of the program regardless of any upsets by the court.
More: http://www.reuters.com/article/2013/12/16/us-portugal-bailout-review-idUSBRE9BF0ZJ20131216?feedType=RSS&virtualBrandChannel=11563

Portugal choose Campinas as World Cup base

But Prime Minister Pedro Passos Coelho promised on Friday that the government would find alternatives to ensure the country cuts the budget deficit as planned to 4 percent of gross domestic product next year from 5.5 percent. "The government will now study the new situation, on the basis of a close reading of this decision, to present a new measure to allow us to meet our stated goals," Passos Coelho told reporters in Brussels. "It is our profound conviction ... that external financing and the sustainability of public spending will only be assured with measures like this." Eurogroup head Jeroen Djisselbloem welcomed the government's commitment to find alternative measures quickly. "The reform effort must be sustained," he said in a statement. "An ambitious and credible fiscal consolidation strategy as well as the rigorous implementation of structural reforms will be crucial to ensure investors' confidence in the government's policies, with a view to a successful conclusion of the adjustment program." Filipe Garcia, head of Informacao Mercados Financeiros consultants, said the court decision was expected and the lack of market reaction reflected the growing belief among investors that the government will adopt alternative measures if need be.
More: http://www.reuters.com/article/2013/12/20/us-portugal-court-idUSBRE9BJ0YK20131220

Portugal top court blocks austerity pensions cuts

Debt is the big problem for Portugal, which is why it required a bailout from the EU. The package expires in June and Prime Minister Pedro Passos Coelho said last week that the country will not need a second bailout. During the first part of my trip, I was very impressed with Switzerland and its 3% unemployment rate and 16 straight quarters of economic growth. But with Portugal just beginning its recovery and being completely ignored by the rest of the world, I suspect its a better investment opportunity. Ive been big on Europe the past few months, adding several European stocks to the portfolios in theOxford Income Letterand my other trading advisories. Europe is still off many investors radar due to the economic problems of a few years ago, but things are clearly getting better.
More: http://etfdailynews.com/2013/12/20/portugal-is-turning-the-corner-and-things-are-getting-better/2/

Portugal court nixes public-pension cuts

The team intend to use the Moises Lucarelli stadium in Campinas. But they may have to train on other pitches nearby, because of privacy issues at the stadium. Ponte Preta's ground is surrounded by high rises and the Portuguese Football Federation has reportedly asked for the stadium to be covered, to avoid training sessions being watched by prying eyes. Stadium administrator Elias da Silva said: We know that the World Cup is a war, no? So if Portugal http://www.euronews.com/tag/portugal/ are going to practice, they want, like I say, somewhere more hidden.
More: http://www.modernghana.com/sports/510212/2/portugal-choose-campinas-as-world-cup-base.html

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