The International Monetary Fund (IMF) does not believe that Portugal will achieve a deficit of below 3% this year if the government continues to use those fiscal measures currently in place.
In the ‘World Economic Outlook’ published today in Washington, the IMF points to a Portuguese deficit of 3.2% this year and 2.8% in 2016, a big blow to the government which is relying on positive economic data to help it get re-elected.
Portugal's Civil Aviation Pilots Union has concluded that talks with TAP management have reached an impasse and its members will decide later this week whether to strike or not.
The pilots’ union can schedule another strike if there is no progress and if its members at two scheduled meetings this week decide that a strike is the best way forward in pressing home their claims.
Industrial production in Portugal fell in February whereas it was up on average in the eurozone.
The measure considers the output from the industrial sector, such as manufacturing, mining, and utilities, but excludes construction.
Managers of the New Zealand Superannuation Fund, announced today that they are pressing ahead with a lawsuit against the Bank of Portugal.
At issue is the money lost when the Bank of Portugal’s Governor Carlos Costa decided that the New Zealander's pension money invested in BES, as part of a Goldman Sachs €835 million deposit, should stay at Banco Espírito Santo ‘bad bank’ when BES collapsed last August.
The out-of-touch world of Portugal’s Tax Authority has seen the boundaries of its own mad-cap standards once again challenged from within.
The latest ploy from the taxman is to insist that the recipient of goods to tootle off to Finanças to settle the bill, rather than paying the supplier, if the supplier owes the taxman money.
Pizza chefs in Italy saw red when fast-food giant McDonald’s advertised that Italian children prefer a Happy Meal to a pizza.
The True Neapolitan Pizza Association, representing pizza makers across the country, said it is even considering legal action “to end this shameful attack on a symbol of the Mediterranean diet”.
Polish Prince John Zylinski has challenged the Ukip leader Nigel Farage to a sword duel in Hyde Park because of Mr Farage’s anti-immigration stance.
Mr Zylinski pointed to the heroism of his father Andrew Zylinski who led a victorious cavalry charge against the Nazi invaders in 1939 and saved 6,000 Jews in the process.
The most popular spot luring British expats remains Australia.
In the last five years, some 207,000 have moved there. This is nearly a quarter of the 851,000 Brits who moved overseas during those five years.
