Público
«Toxic swaps made interest rates of state-owned companies rise 20%», reveals Público, as the Attorney General’s Office has launched a probe into cases of financial speculation involving several state-owned transport companies including the Porto Metro, STCP, Lisbon Metro and Carris.
Correio da Manhã
«Illicit funds in state-owned companies», reports Correio da Manhã, which compares the new financial scandal involving state-owned transport companies with the case of BPN bank bailed out by the state in 2008. The daily points to a figure of €3bn involved in financial speculation with interest rates over 20%.
Diário de Notícias
«Austerity has reached the limit», writes Diário de Notícias, quoting President of the European Commission José Manuel Barroso, who also said in Brussels that the Portuguese were “extremely hard-working”. Barroso also called for more social support from the Portuguese government ahead of the Council of Ministers meeting to discuss possible growth strategies.
Jornal de Notícias
«Attorney General’s Office probes financial game in transport companies», reports Jornal de Notícias, as the secretary of state for the treasury has slammed “highly speculative” contracts involving state-owned transport companies, while promising to reveal the result of negotiations with banks.
i
«Attorney General investigates Porto Metro contracts», reveals i, the aim being to verify the existence of irregularities in investments carried out by current and former secretaries of state of the PSD/CDS-PP coalition government via public transport companies which could harm public coffers in over €3bn in favour of banks.
Diário Económico
«State threatens to take banks that refuse to negotiate swaps to court», writes Diário Económico, as the IGCP (Public Debt and Treasury Management Agency) is attempting to finalise the renegotiation of high-risk contracts by several state-owned companies before next Friday. The financial daily reports that these contracts could potentially lead to losses of €3bn and that the case is still being investigated to see whether there will be criminal proceedings.
Jornal de Negócios
«Development bank will have funds of €6bn», reports Jornal de Negócios, as the institution will kick off in 2014 and according to the financial daily, is set to benefit small and medium enterprises (SMEs). The paper also reports that the government will approve a growth and industrial development strategy this Tuesday.
A Bola
«Gaitán: The whole world is after him», writes A Bola, referring to Benfica’s Argentinian midfielder Nicolás Gaitán, who helped Eduardo Salvio score against Sporting on Sunday.
Record
«Rojas is here», reveals Record, as Jorge Rojas signs a 5-year contract today with Benfica.
O Jogo
«Nico was fantastic in second goal», writes O Jogo, after Benfica beat Sporting 2-0 with Argentinian attacking midfielder Nicolás Gaitán setting up the two goals.