Portugal

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Portugal Faces Slowdown Amid Anti-Austerity Moves, Warns IMF

Portugal’s fragile recovery is losing momentum, with growth held back by sluggish investment and weak exports as uncertainty and corporate debt weigh on the economy, the International Monetary Fund has warned. The consumption-based recovery of the past t ...

Daily Headline - global.abi.org - 09/22/2016 - 23:11 - 0 comments

Eurozone Sets Out New Fiscal Targets for Spain and Portugal

agreed with the European Commission’s arguments about dropping the fines, which, at 0.2% of gross ... amounting to 0.25% of GDP this year, with all windfall gains from one-off measures used to accelerate ...

Daily Headline - global.abi.org - 08/09/2016 - 22:35 - 0 comments

Europe Decides Against Fines for Spain and Portugal

European Union officials, facing the rise of populist movements across the region, opted against hitting Spain and Portugal with sanctions on Wednesday for breaking the bloc’s rules on government spending, the International New York Times reported. T ...

Daily Headline - global.abi.org - 07/27/2016 - 22:06 - 0 comments

Eurozone Slams Spain, Portugal On Excessive Deficits

Eurozone finance ministers agreed on Monday (Jul 11) to officially declare Spain and Portugal in breach of the EU public spending rules, a key step to possibly imposing unprecedented penalties against members of the currency bloc, Channel News Asia repor ...

Daily Headline - global.abi.org - 07/11/2016 - 21:12 - 0 comments

EU Executive Rules Spain, Portugal Didn’t Do Enough to Curb Budget Deficits

The European Commission said Thursday that Spain and Portugal didn’t take sufficient measures to bring their 2015 budget deficits within European Union limits, triggering a process which could eventually lead to financial sanctions, The Wall Street Jou ...

Daily Headline - global.abi.org - 07/07/2016 - 23:05 - 0 comments

Brussels Set To Fine Spain And Portugal For Deficit Breaches

Spain and Portugal are on course to become the first ever eurozone countries to be sanctioned for breaching EU fiscal rules, in a move set to inflame political tensions over how dogmatic Brussels should be in policing national budgets, the Financial Ti ...

Daily Headline - global.abi.org - 07/05/2016 - 23:03 - 0 comments

Novo Banco Looks To Boost Capital With Discounted Senior Tender

Novo Banco is seeking to buy back up to 500m of senior debt, some of which is held by retail investors, at a discount to par as it looks to bolster its balance sheet, Reuters reported. The Portuguese bank has launched a discounted cash tender offer on ei ...

Daily Headline - global.abi.org - 06/23/2016 - 23:00 - 0 comments

EU Delays Decision on Spain and Portugal Over Deficit Breaches

The European Commission has put off a contentious decision on imposing financial sanctions on Spain and Portugal for failing to bring their budget deficits within European Union rules, saying it would revisit the issue in July, after Spain had held a gen ...

Daily Headline - global.abi.org - 05/18/2016 - 21:01 - 0 comments

Portugal Loses UK Court Battle Over ‘Toxic’ Derivatives

Portugal faces potential liabilities of more than €1.5bn after losing a British court battle over derivatives that Lisbon has challenged as “toxic”, the Financial Times reported. State-owned transport companies have for more than two years withheld p ...

Daily Headline - global.abi.org - 03/07/2016 - 21:39 - 0 comments

Novo Banco Decision Adds to Letdowns in Default-Swap Market

Investors facing huge losses on Novo Banco SA bonds suffered another defeat, Bloomberg News reported. The group that oversees the credit-default swaps market declined to amend any contracts insuring the Portuguese bank’s debt, probably killing off swapho ...

Daily Headline - global.abi.org - 03/02/2016 - 21:42 - 0 comments

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