Portugal and the EU

Latest business news about Portugal and the European Union.

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Most Portuguese reject bailout conditions — 20 May 2013, 17:05 CET

The latest draconian measures to shore up the Portuguese economy will make matters worse and the government should break the agreement with the IMF and European Union or obtain better terms, an opinion poll finds.

Crisis-hit Spain, Portugal back youth jobs plan — 13 May 2013, 19:57 CET

Recession-hit Spain and Portugal said Monday they welcomed "any plan" to fight youth unemployment, after reports that European powers planned to invest billions in getting young people back to work.

Portugal signals EU-IMF agreement — 13 May 2013, 18:13 CET

The Portuguese government is signalling that it has reached an agreement with IMF and EU creditors on its latest radical austerity measures to correct public finances, after the constitutional court struck down some of the proposed policies.

Portugal pushes ahead with sweeping spending cuts — 06 May 2013, 22:42 CET

Portugal is pushing ahead with deeply unpopular plans to slash 30,000 public sector jobs by launching talks with unions as part of a sweeping savings package to satisfy international creditors.

Troika study Portugal's new austerity measures — 15 April 2013, 16:11 CET

Portugal's international creditors started Monday to study new austerity measures proposed by the government to meet its deficit reduction commitments after a court invalidated some previous cuts.

Eurozone backs 7-year Irish, Portuguese debt extension — 12 April 2013, 16:41 CET

Eurozone finance ministers favour giving bailed-out Ireland and Portugal an extra seven years to repay the aid they received to save them from collapse, Eurogroup head Jeroen Dijsselbloem said on Friday.

With back against wall, Portugal pushes on with austerity — 10 April 2013, 10:21 CET

Despite the risk of aggravating the recession and unemployment, Portugal's government is wagering that following the austerity prescribed by its creditors will help it regain market confidence and avoid a second bailout.

Portugal says EU-IMF-ECB auditors to make special visit — 08 April 2013, 20:23 CET

Auditors from Portugal's international creditors will make an additional visit to the country in the coming weeks as it seeks to find new spending cuts after a court ruling rejected a number of austerity measures, an official said Monday.

Eurogroup approves Ireland, Portugal debt extension — 16 March 2013, 10:45 CET

Eurozone finance ministers approved early Saturday plans to give bailed-out Ireland and Portugal more time to pay back some of their massive rescue loans.

Lisbon wins more time to meet deficit target — 15 March 2013, 19:19 CET

Recession-plagued Portugal on Friday won an extra year from its creditors to bring down its public deficit in line with EU regulations, but faces record unemployment and mounting social discontent.

Portugal welcomes EU move to extend debt payments — 05 March 2013, 22:02 CET

Portuguese Finance Minister Vitor Gaspar welcomed on Tuesday a decision by eurozone peers to extend in principle the payment deadline on funds owed by Portugal to a troika of international creditors.

Portugal has no pressing financing needs: finance minister — 30 January 2013, 16:45 CET

Portugal has no urgent financing needs and is not planning any additional bond issues for the time being, the country's finance minister Vitor Gaspar said here Wednesday.

Portugal plans to proceed with shipyard privatisation — 25 January 2013, 20:50 CET

Portugal expects to clarify EU-probed funds provided to the ENVC shipyard next month, and proceed with the site's privatisation to help trim public debt, Defence Minister Jose Pedro Aguiar Branco said on Friday.

EU slaps EUR 79 m fine on Telefonica, Portugal Telecom — 23 January 2013, 17:49 CET

European Union anti-trust authorities announced on Wednesday a fine of 79 million euros against Telefonica and Portugal Telecom for breaching EU competition rules in Portugal and Spain.

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".

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 — 12 February 2013, 18:23 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.

Portugal's golden shares in EDP are unlawful — 10 December 2010, 00:37 CET

The European Court of Justice (ECJ) ruled that by retaining special rights attributed to it by means of Golden Shares in Energias de Portugal, the Portuguese State has failed to fulfil its obligation to the fundamental principle of the free movement of Capital.

Portugal must comply with Natura 2000 rules, warns EC — 24 June 2010, 21:59 CET

The European Commission has requested that Portugal ensure coastal developments in sensitive natural areas are fully compliant with EU environmental protection law.