thedailybell.com / By Staff Report / MONDAY, JUNE 10, 2013
The Mystery of Why Portugal Is So Doomed … Did relying too heavily on mom-and-pop businesses hobble one of Europe’s most imperiled countries? It’s possible. Every unhappy family might be unhappy in its own way, but the same isn’t quite true of every unhappy [...]
globaleconomicanalysis.blogspot.com / By Mike “Mish” Shedlock / May 28, 2013 12:08 PM
In an interesting development in the battle to see which country is bright enough to exit the euro first, a book urging a return to the Escudo (the prior Portuguese currency) became an instant a bestseller in Portugal.
The Wall Street Journal reports [...]
marctomarket.com / By Marc Chandler / TUESDAY, MAY 7, 2013
This is an important day for Portugal. It is selling 10-year bonds for the first time in more than two years. Demand is reportedly strong. Today’s 10-year sale follows the 5-year bond sale in January and heralds to full return of Portugal to the capital [...]
harveyorgan.blogspot.com / Tuesday, April 16, 2013
Good evening Ladies and Gentlemen:
Gold closed up $21.60 to $1386.80 (comex closing time). Silver rose by 11 cents to $23.62 (comex closing time).
In the access market at 5 pm:
gold: $1372.90 silver: $23.39
Today we had a little breather from gold/silver attacks. But rest assured that [...]
zerohedge.com / By Tyler Durden / 04/15/2013 22:15
Submitted by Mark J. Grant, author of Out of the Box,
“Last night, Darth Vader came down from planet Vulcan and told me that if I didn’t take Lorraine out that he’d melt my brain.”
Mário Alberto Nobre Lopes Soares is a Portuguese [...]
globaleconomicanalysis.blogspot.com / By Mike “Mish” Shedlock / Saturday, April 13, 2013 11:35 AM
It’s rare to hear any bit of common sense from political leaders, but today I have a sterling example. Mário Soares, Prime Minister of Portugal from 1976-1978 and 1983-1985, and the 17th President of Portugal from 1986 to 1996 speaks the [...]
A protester holds a flare during a demonstration in Lisbon last year
telegraph.co.uk / By Ambrose Evans-Pritchard / April 12, 2013, 4:59PM BST
Mario Soares, who steered the country to democracy after the Salazar dictatorship, said all political forces should unite to “bring down the government” and repudiate the austerity [...]
zerohedge.com / By Tyler Durden / 04/11/2013 14:24
The troubles in Cyprus have set off a new examination of the health of the eurozone, with a particular focus on which country might be next in line for a bailout and the extent to which shareholders and depositors will take losses when banks fail (bail-ins). As [...]
Portuguese pensioners during a protest against austerity measures.
telegraph.co.uk / By Bruno Waterfield, Brussels / April 11, 2013
Portugal could face a second bail-out as the country, mired in recession and deeply divided over eurozone austerity measures, is caught in a debt spiral of soaring costs and borrowing to payback [...]
globaleconomicanalysis.blogspot.com / By Mike “Mish” Shedlock / Sunday, April 07, 2013 8:12 PM
As expected, Brussels rejected the Inane Plan “B” Measure to Pay Workers in T-Bills following a Portuguese court ruling that certain austerity measures are unconstitutional.
Reuters reports Portugal must stick to agreed budget targets to get loan extension.
zerohedge.com / By Tyler Durden / 04/07/2013 19:48
It seems, despite the constant “it’s all fixed” banter, that Portugal’s Constitutional Court decision that the Troika-imposed austerity is unconstitutional (as we discussed in detail here and here) has a few of the ‘elites’ nervous. And so, late on a Sunday night European time, they launch a [...]
globaleconomicanalysis.blogspot.com / By Mike “Mish” Shedlock / Sunday, April 07, 2013 2:33 PM
Last week, ahead of a ruling by the Portuguese Constitutional Court on whether or not the austerity measures it approved were legal, Portugal’s PSI stock market took a dive.
PSI Stock Index
On March 25 the index was at [...]
marctomarket.com / By Marc Chandler / April 7, 2013
There have been two new developments over the weekend whose implications are worth considering ahead of the opening the markets. In Portugal, after the markets closed on Friday, the Constitutional Court struck down part of the government’s austerity measures.
In Italy, the caretaker government, confirmed [...]
johngaltfla.com / by John Galt / March 28, 2013 21:30 ET
Ah, the good old days.
Spain can’t meet it’s goals and needs a break from the European Union.
Italy can’t form a government again (again, again, again, etc…).
Ireland got drunk and forgot to make a bond payment.
Greece well, is [...]
zerohedge.com / By Tyler Durden / 03/26/2013 – 11:31
UPDATE: Well that didn’t take long – The Portuguese Finance minister just denied his earlier comments and added that the Cyprus deal is NOT a template for future actions (EURUSD doesn’t believe him).
The shambles continues in Europe. This morning we saw a plethora of [...]
tfmetalsreport.com / By Turd Ferguson / Tuesday, March 26, 2013 at 10:39 am
In what has become a habit/necessity of late, just another quick post for you today.
This getting old stuff sure stinks. Today, MrsF is having her first colonoscopy. Lucky her, huh? I had my first several years ago but I don’t recall [...]
thedailybell.com / By Staff Report / March 12, 2013
The Great Portuguese Hollowing Out … With every passing day Portugal has less and less economy left, while fewer and fewer people remain to try to pay down the debt. As Portuguese President Aníbal Cavaco Silva once put it, “A country without children is a nation [...]
armstrongeconomics.com / By Martin Armstrong / February 25, 2013
Portugal is in a massive deep recession with GDP growth coming in more than a negative 1%. Portugal has announced it may cut the corporation tax to boost growth and investment. They are starting to realize that the youth have no jobs. You keep [...]
yanisvaroufakis.eu / by Yanis Varoufakis / February 10, 2013
Ireland and Portugal have, recently, tested the water of the money markets with some success. Portugal has issued 5-year bonds and Ireland is in the process of converting its unbearable promissory notes into long-term bonds, to be sold to the private sector. So, on face [...]
Riot police stands in front of the Portuguese Parliament during a protest in Lisbon on September 15.
cnn.com / by Peter Wise and Robin Wigglesworth, FT.com / October 4, 2012 — Updated 0035 GMT (0835 HKT)
(Financial Times) — Portugal announced sweeping new tax increases in an effort to keep [...]
Portuguese Finance Minister Vitor Gaspar (C) leaves after giving a press conference to announce new austerity measures at the Finance Ministry in Lisbon on Wednesday. Photo: AFP
telegraph.co.uk / By Szu Ping Chan / October 3, 2012
Portugal has announced a raft of new cuts designed to reduce the country’s debt pile, as [...]
tfmarketadvisors.com / by Peter Tchir / October 3, 2012
Portugal managed to exchange some bonds today. The government bought back some bonds due to mature in 2013 and exchanged them for bonds due to mature in 2015. This is interesting. I think it has helped risk in Europe as it is [...]
sovereignman.com / by Simon Black / September 25, 2012
After being away for over four months and traveling through more than 30 countries on four continents, I returned to Chile a few days ago, fortuitously on the first day of spring.
Remember, the seasons are flipped in the southern hemisphere, so [...]
libertyblitzkrieg.com / By Michael Krieger / August 16, 2012
This story from Bloomberg is one of the most gold bullish items I have read in the last 12 months. While many pundits like to get on their soapboxes and spout about how gold is in a “bubble” merely due to the fact [...]
zerohedge.com / by Tyler Durden / 08/16/2012 10:51
“Business has gone from great to terrible in a matter of months. The sad truth is that most of my clients have already sold all of their gold rings,” is anecdotal evidence of a growing trend that Bloomberg reports in Portugal. Historically the home of Europe’s [...]
sovereignman.com / by Simon Black / July 11, 2012
July 10, 2012 Porto, Portugal
It’s been said that the definition of insanity is to do the same thing over and over again but to expect a different result. On that basis, the western world’s economic policymakers are clearly certifiable.
They cut rates. It does nothing. [...]
sovereignman.com / By Simon Black / July 10, 2012
Portugal is a country that I’ve always enjoyed, full of warm, welcoming people, excellent wine, and great weather.
I came to Porto, the country’s second largest city of some 1.5 million, to get a sense of what’s been happening since the eurocalypse.
1. Capitulation of [...]
golemxiv.co.uk / by GolemXIV / June 15, 2012
Portugal’s entry in the EuroFiscal Corruption Contest is a more modest affair than Spain’s. It centres round a simple fact, which I picked up a few days ago from Bloomberg, that
Isabel dos Santos, the daughter of Angola’s president, is the biggest shareholder in [...]
acting-man.com / by Pater Tenebrarum / June 1, 2012
Spain: Yields Ease off Slightly, CDS at a New All Time High
Below is a selection of our customary update of credit market charts, including the usual suspects: CDS on various sovereign debtors and banks, bond yields, euro basis swaps and a few other charts. Charts [...]
goldmoney.com / May 31, 2012
“Spexit” – short for a Spanish exit from the eurozone – is the new word leaping of the tongues of market analysts, with investor attention centred on problems in the Spanish banking sector. Though the European Union has offered Spain more time to sort out its budget problems, news [...]