Portugal and the EU

Latest business news about Portugal and the European Union.

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EU Parliament chief highlights IMF's mixed messages — 13 January 2013, 23:28 CET

European Parliament president Martin Schulz has criticised the IMF for demanding more austerity in Portugal while acknowledging that too much budget rigour can undermine badly-needed economic growth.

Commission head says markets no longer see eurozone break-up — 03 January 2013, 17:31 CET

Investors no longer think there is a risk that the eurozone could break up, says European Commission President Jose Manuel Barroso, though the situation in Europe remains "difficult".

European police roll up sham marriage gang — 20 November 2012, 22:35 CET

Police have busted a gang exchanging fake marriages for large sums of money to give illegal immigrants European Union citizenship, European law enforcement agencies said Tuesday.

Portuguese creditors give Lisbon good marks: minister — 19 November 2012, 21:18 CET

Portugal has received another passing grade from its creditors following a regular review of a May 2011 aid plan backed by the European Union and International Monetary Fund, Finance Minister Vitor Gaspar said on Monday.

General strike hits transport in Portugal — 14 November 2012, 10:43 CET

A general strike against the centre-right government's austerity programme hit air and rail transport across Portugal Wednesday, part of a wave of protests across several European countries.

IMF releases EUR 1.5 bn loan tranche to Portugal — 24 October 2012, 22:22 CET

The International Monetary Fund released Wednesday a 1.5 billion euro loan instalment to Portugal, after a review of its progress under a bailout program.

Portuguese government submits austerity budget — 16 October 2012, 00:09 CET

The Portuguese government pushed ahead on Monday with a draft 2013 budget that includes massive tax rises and spending cuts, just two days after mass street protests against further austerity.

Portuguese draft budget set to raise taxes despite austerity fatigue — 15 October 2012, 13:29 CET

The Portuguese government was all set to push ahead on Monday with massive tax rises in a draft 2013 budget just two days after mass street protests against further austerity.

Eurogroup approves EUR 4.3bn Portugal bailout tranche — 09 October 2012, 00:02 CET

The Eurogroup of finance ministers on Monday approved the latest 4.3-billion-euro tranche of EU-IMF bailout loans to Portugal which has agreed fresh austerity measures.

Barroso has 'high hopes' that Portugal will win bailout payment — 01 October 2012, 19:42 CET

The European Commission favours paying out the latest installment of Portugal's 78 billion euro ($100 billion) bailout and eurozone partners should follow suit, Commission President Jose Manuel Barroso said on Monday.

Portugal says EU-IMF creditors relax deficit targets — 11 September 2012, 21:37 CET

The EU and IMF have agreed to relax Portugal's deficit targets for 2012 and 2013, Finance Minister Vitor Gaspar said Tuesday after the latest bailout review.

Portuguese budget slips as international auditors arrive — 28 August 2012, 19:20 CET

International creditor representatives were back in Portugal on Tuesday to check on its progress meeting budget targets that are proving elusive and might lead Lisbon to seek easier terms.

EU, IMF warn of risk to Portuguese budget targets — 18 July 2012, 10:56 CET

Portugal can still reach its 2012 budget targets but the risk of failure has grown significantly, officials from the European Commission and International Monetary Fund said on Tuesday.

EU warns of risk to Portuguese budget targets — 17 July 2012, 13:37 CET

Portugal can still reach its 2012 budget targets but the risk of failure has grown significantly, the European Commission said on Tuesday.

Portugal: country overview — 10 July 2012, 12:00 CET

Portugal has become a diversified and increasingly service-based economy since joining the European Community - the EU's predecessor - in 1986. Over the past two decades, successive governments have privatized many state-controlled firms and liberalized key areas of the economy, including the financial and telecommunications sectors.

Portuguese banks seek injection, EU-IMF says plan 'on track' — 04 June 2012, 20:57 CET

Three top Portuguese banks will receive a huge injection of public cash, the finance ministry said Monday, as Portugal passed its fourth bailout review to open the way for more EU-IMF rescue loans.

Portugal passes fourth EU-IMF bailout review: minister — 04 June 2012, 11:27 CET

Portugal has passed its fourth bailout review and will receive its next tranche of rescue loans from the European Union and International Monetary Fund, Finance Minister Vitor Gaspar said on Monday.

Doing business in Portugal: Environmental rules — 01 May 2012, 16:34 CET

Businesses in Portugal are obliged to comply with certain environmental legislation in order to be able to operate.

Doing business in Portugal: Staff welfare — 01 May 2012, 15:58 CET

The Portuguese Labour Code defines the workplace rules applicable to the employees of a business.

Bailed-out Portugal takes lead in ratifying EU budget pact — 13 April 2012, 16:30 CET

Portugal, which received an international bailout last year, became the first EU country to ratify a European Union pact tightening budget discipline on Friday.

Portugal on track but problems elsewhere a threat: IMF — 05 April 2012, 20:22 CET

Bailed-out Portugal is on track to meet its debt-rescue targets but faces "formidable challenges," says the International Monetary Fund, warning that the EU might have to stand by promises of more support.

IMF approves EUR 5.17 bn loan to Portugal — 04 April 2012, 20:50 CET

The International Monetary Fund said Wednesday Portugal was making "good progress" in its loan-supported economic program, clearing the way for a 5.17 billion euro instalment.

EU-IMF experts praise Portugal, warn of risks from recession — 03 April 2012, 15:30 CET

Portugal is meeting debt-rescue targets and could be strong enough to borrow on financial markets next year but is in a deeper recession than thought, EU and IMF auditors said on Tuesday.

Serbia seeking greater global role, says president — 27 March 2012, 18:27 CET

Gaining EU candidate status was crucial step for Serbia, which hopes to become an active international player, Serb President Boris Tadic said Tuesday as he received a top European prize.

Time to move on from euro crisis: Portuguese president — 11 February 2012, 14:02 CET

European leaders need to move on from the current focus on the eurozone financial crisis and take aim at other issues important to the region, Portuguese President Anibal Cavaco Silva said Saturday.