Cavaco Silva News
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The Portuguese government said a Constitutional Court decision to block planned cuts in salary payments to state workers and pensioners has “negative effects” for the country.
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Portugal’s Constitutional Court blocked some of the government’s planned cuts in payments to state workers and pensioners for a second time.
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Portuguese Prime Minister Pedro Passos Coelho faces a Constitutional Court ruling on the legality of some elements in this year’s budget that may challenge the government’s ability to meet deficit targets.
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European stocks slumped the most in five months as U.S. employers hired fewer workers than forecast and airline shares fell as a bird flu spread in China.
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French, Austrian and Belgian bonds rose, pushing 10-year yields to record lows, amid speculation the European Central Bank will keep monetary policy accommodative, boosting demand for alternatives to German bunds.
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Parliamentary Affairs Minister Miguel Relvas resigned today, saying he didn’t have the “state of mind” to continue.
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The European Central Bank can stop the spread of the continent’s financial crisis with “foreseeable, unlimited” purchases of Italian and other government bonds, Portuguese President Anibal Cavaco Silva said.
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Portugal’s Anibal Cavaco Silva looks set to be re-elected president as the country struggles to avoid becoming the third euro-area nation to seek a bailout.
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Portugal’s Anibal Cavaco Silva looks set to be re-elected president today as the country struggles to avoid becoming the third euro-area nation to seek a bailout.
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Portuguese President Anibal Cavaco Silva , a former premier and economist, won election to a second term as the country struggles to avoid following Greece and Ireland in requesting a bailout.
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