An estimate that over one million properties may have their rates bills raised is contained in a proposal by the 'Group of 12' economists reporting to socialist party leader António Costa.

The Algarve would be hard hit along with Sintra and Cascais (pictured).

The president of the European Commission, Jean-Claude Juncker, is reported to have said that he wants “a fair deal with Britain” and “stands ready to work constructively with the new government” of the UK.

“The Commission will examine in a polite, friendly and objective way any proposals, ideas or requests that the UK may put forward," he added.

"It's import further to streamline public spending through a comprehensive reform of salaries, pensions and tax reforms," according to an IMF report issued today with forecasts more pessimistic than those of Portugal’s Government.

The IMF has said it before, and is saying it again, Portugal must cut its public spending, and  insists on the need to "continue structural reforms" to improve competitiveness.

A complaint against Venice has been taken to the EU for gouging visitors.

The two-tier system of charging means that tourists pay far more than Venetian locals for services. It is being claimed that this is in breach of the EU regulations on equality.

A bottle of vintage Ferreira port from the year of the Battle of Waterloo has been auctioned by Sotheby’s, smashing previous records by achieving a hammer price of €6,800.

The Vintages Collection auction was held at the Tower of London this Thursday as part of a celebration of the 200th anniversary of the Battle of Waterloo; no French were present.

Greybull Capital LLP, controlled by the secretive Meyohas brothers from their Knightsbridge offices, is reported to have gone through the figures and is finalising a bid for TAP.

The airline, owned by the Portuguese state on behalf of the taxpayer, is up for sale despite 2014 losses and a current strike by pilots which may knock as much as €40 million from its 2015 turnover.

The Finance Ministry has no shame in paying its tax collection staff a percentage commission for all money retrieved by methods of ‘coercive collection.’

This year a delighted Minster of Finance has agreed a 5% commission for Finanças staff meaning that extra taxes will have to be raised to recoup the 5% she has just given away.

David Cameron as head of the UK's Conservative Party  remains prime minister for another five year term.

This was the decision of the voters in the UK election held yesterday, May 7th.