A damning IMF report has highlighted the real financial situation in Portugal.
With the highest combined debt levels in the eurozone at over 360pc of GDP, Portugal has “strangulating debt levels, falling job creation and bad loans.”
A festival featuring street food of many varieties, a party atmosphere, a warm night, what possibly could go wrong?
With one child seriously ill in hospital and around 100 others suffering from salmonella poisoning, the organisers can do little more at this stage than collect the names of those affected and offer apologies.
Loulé court has enforced an order made in 2011 that an entire Albufeira apartment bloc must be demolished, and the top floor of another removed, at an estimated cost of €500,000.
Albufeira’s mayor and councillors currently each are paying fines of €25 per day until the work is done.
The Judicial Police have arrested the former president of Fernave, a subsidiary of national railway company Comboios de Portugal, on suspicion of embezzlement and abuse of power in dealings with Angola.
“The Judicial Police, through the National Anti-Corruption Unit, as part of an investigation led by the Lisbon prosecutor, stopped at Lisbon Airport the former president a public transport company for crimes of embezzlement and abuse of power in a cooperation with Angola," read a police statement.
PEPEX, the new ‘pre-executive extra-judicial procedure’ that enabled creditors to find out in advance whether debtors have assets, has been used to good effect by Portugal’s un-loved telecommunications companies.
Operational since November 2014, the extra-judicial procedure that allows creditors to know whether those who owe them money have assets to nab, and evaluate whether it is worth going to court, so far has kept 30,000 customers out of court as there have been no assets registered to seize and liquidate.
The Algarve has been anticipating a fire as the countryside is tinder dry and winds continue to sweep across the region, ready to fan any blaze.
This afternoon the wait was over as a large area of farm and scrubland rather too close to Vilamoura for comfort, caught fire, triggering a huge and successful emergency action from firefighters and the civil protection agency.
To the intense irritation of those companies forced to foot the bill, airports operator ANA has announced a further series of above inflation price hikes for those companies operating at Portugal’s airports.
French owned ANA has proposed an average increase of 2.93% in airport charges for 2016 and justifies this figure by its investment “exceeding €250 million over the next four years to respond to the increased traffic.”
The Spanish economy outperformed the eurozone’s other big economies last month.
The country is the fourth largest economy in the euro area and it experienced a 1% growth at the start of the third quarter, boosted by the healthy performance of its services sector.
