Portugal and the EU

Latest business news about Portugal and the European Union.

Time to move on from euro crisis: Portuguese president — 11 February 2012, 13:02 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.

Creditors say Portugal's finance reforms on track — 21 January 2012, 21:23 CET

Portugal is successfully implementing a series of fiscal reforms that are key to gaining continued international financial assistance, its chief creditors said on Saturday.

Portugal drops extended working day, agrees other reforms — 17 January 2012, 18:55 CET

Portugal dropped plans Tuesday to extend the official working day, abandoning a key labour reform aimed at helping jumpstart an economy hit hard by the eurozone debt crisis.

EU bond sale raises EUR 3bn for Ireland, Portugal — 09 January 2012, 19:26 CET

The European Union raised 3.0 billion euros on Monday in a successful 30-year bond sale for bailed-out eurozone nations Ireland and Portugal.

Portugal says EU, IMF auditors endorse debt progress — 16 November 2011, 23:29 CET

European Union and IMF auditors have positively reviewed Portugal's progress under its May debt rescue package, clearing the way for another aid payment, says the government.

Portugal raises EUR 1.12bn, rates lower or flat — 16 November 2011, 14:32 CET

Portugal paid lower or unchanged rates to raise 1.12 billion euros ($1.51 billion) in short-term funds on Wednesday at a time of continued tensions over the eurozone debt crisis.

Portugal pays slightly increased rates on 3-month bonds — 02 November 2011, 12:22 CET

Portugal borrowed 1.244 billion euros ($1.7 billion) for three months on the bond market on Wednesday, paying slightly higher rates from the yield at the last such operation.

Tens of thousands protest austerity policies in Portugal — 16 October 2011, 15:35 CET

Tens of thousands of people on Saturday took to the streets of Lisbon to protest against the austerity programmes of the European Union and the International Monetary Fund.

Portugal pays slightly increased rate in bond auction — 05 October 2011, 14:07 CET

Portugal raised 722 million euros ($961.8 million) on Wednesday in short-term loans at slightly increased yield rates, Portugal's debt management agency said.

Clinton calls on Europe to stem debt crisis — 28 September 2011, 00:45 CET

US Secretary of State Hillary Clinton on Tuesday called on European governments to tackle reforms to stem the public debt crisis, citing no alternative to these "difficult decisions."

Portugal targets EUR 7bn in privatisations — 19 September 2011, 13:59 CET

Portugal hopes to end its privatisation programme before the end of 2012 and raise seven billion euros, Prime Minister Pedro Passos Coelho told French daily Le Figaro on Monday.

Portugal to slash public sector posts in cost cutting move — 15 September 2011, 17:33 CET

Portugal unveiled Thursday plans for a slimmed-down central administration with the axing of 27 percent of directors' posts as creditors met to ensure the country's bailout rules were being met.

Portugal faces Greek fallout on eve of creditor visit — 14 September 2011, 23:07 CET

Portugal must avoid letting a looming default by Greece sink its own debt-crisis fight, the government said on Wednesday, just as creditors were to pore over a 2012 budget to ensure bailout conditions were being met.

Ireland, Portugal win eased bailout loan terms from EU — 14 September 2011, 18:17 CET

The European Commission has decided to offer Ireland and Portugal lower interest rates and a longer repayment window on loans from an EU-wide fund that also contributes to eurozone bailouts, the EU executive said on Wednesday.

Portugal meeting bailout targets: IMF — 13 September 2011, 23:18 CET

The International Monetary Fund said Tuesday that Portugal was meeting the targets of the European Union-IMF bailout plan, but faced real risks from global market turmoil.

Portugal meeting bailout targets: IMF — 13 September 2011, 22:53 CET

The International Monetary Fund said Tuesday that Portugal was meeting the targets of the European Union-IMF bailout plan, but faced real risks from global market turmoil.

EU releases next tranche of Irish, Portuguese debt aid — 03 September 2011, 23:11 CET

The European Union agreed on Friday to provide Ireland and Portugal with the next installments of their multi-billion-euro bailouts after progress in their austerity measures.

Portuguese PM urges quick passage of rescue fund changes — 31 August 2011, 23:20 CET

Portugal's prime minister Wednesday urged eurozone nations to quickly approve changes to the region's rescue fund to boost market confidence in Europe's ability to tackle its debt crisis.

Soros suggests Greece, Portugal quit eurozone — 14 August 2011, 13:45 CET

George Soros, the US speculator turned billionaire philanthropist, has suggested both Greece and Portugal quit the European Union and the euro-zone because of their massive debts.

EU, IMF okay fresh Portugal aid — 12 August 2011, 23:54 CET

The EU, ECB and IMF 'troika' of Portugal's creditors on Friday gave the green light for an 11.5 billion euro second tranche of aid as part of Portugal's debt bailout plan.

EU, IMF agree Portugal fresh debt aid — 12 August 2011, 15:23 CET

The EU, ECB and IMF 'troika' of Portugal's creditors on Friday gave the green light for an 11.5 billion euro second tranche of debt aid as part of Portugal's bailout plan.

Fitch will re-evaluate Portuguese debt before year's end — 28 July 2011, 13:53 CET

Fitch ratings agency said Thursday it would wait until the end of the year before re-evaluating the long-term debt of Portugal, considered one of the weaker links in the eurozone debt chain.

Portugal says rescue for Greece will help Portuguese — 22 July 2011, 14:31 CET

The debt rescue for Greece is a "decisive contribution" to steadying the eurozone and to helping Portugal deal with its own debt crisis, Finance Minister Vitor Gaspar said on Friday.

Portuguese banks pass EU stress tests: central bank — 15 July 2011, 20:10 CET

The four main Portuguese banks passed EU stress tests, the Bank of Portugal said on Friday.

Portugal reels after Moody's junk rating — 06 July 2011, 22:48 CET

Bailed-out Portugal paid an immediate price Wednesday for a drastic Moody's rating downgrade to junk status, having to offer investors a much higher rate of return to raise fresh funding.