Público
«Portugal’s leader of the Socialist Party opposition, António José Seguro proposes budgetary consolidation indexed to economic growth», reports Público, as the General Secretary of the PS argued that budgetary spending controls needed to be linked to growth and insisted that every European Union member state whose debt exceeded 60% of its GDP should see that debt pooled out with all member states. These were just two proposals put forward by the socialist leader at the closing speech of an international conference “Competitiveness and Cohesion in the Eurozone” which took place at a Lisbon hotel on Monday and was organised by the PS and the Progressive Alliance of Socialists and Democrats. The PS leader also said on Monday that only a newly elected Government should have the remit to “negotiate fresh terms with international financiers”, referring to the possibility of Portugal receiving a second bailout.
«Maria Luís Albuquerque rejects the idea that Paulo Portas’ promotion will undermine her position as new finance minister». Attending her first Ecofin meeting of European finance ministers in her capacity as new Portuguese Finance minister, Maria Luís Albuquerque said on Monday that the appointment of Paulo Portas as new Vice Prime Minister with responsibility for relations with the troika of international creditors not only did not undermine her position but strengthened Portugal’s position. The Government’s relationship with the troika “will be managed side-by-side with the Vice Prime Minister, Paulo Portas and the Minister of Finances,” explained Maria Luís Albuquerque at the end of her first meeting of European Union finance ministers. According to the minister, the troika’s next mission in Lisbon slated for July 15, for the eighth quarterly review for Portugal’s fulfilment of the economic and financial adjustment programme has neither been “confirmed or postponed.”
Correio da Manhã
«Cavaco receives social partners and political party representatives on Tuesday and Wednesday», writes Correio da Manhã, reporting that the President of the Republic, Aníbal Cavaco Silva receives social partners and political party leaders at the Palácio de Belém to discuss Portugal’s political crisis this week. The audiences follows those with the leaders of the two main two political parties in the coalition which took place on Friday and other party leaders on this week in the wake of the resignation of Paulo Portas. This afternoon (Tuesday) the President is to meet the President of the Portuguese Enterprise Confederation (CIP), António Saraiva, the leader of the Portuguese Confederation of Commerce and Services (CPP), João Vieira Lopes, the head of the Confederation of Portuguese Tourism (CTP), Francisco Calheiros, and that of the Confederation of Portuguese Farmers (CAP), João Machado. This morning and tomorrow morning the President is receiving representatives of the PSD, PS, and CDS-PP after having met on Monday with the PEV (Greens), BE (Left Block) and PCP (Portuguese Communist Party) who advised the President to call elections. Finally on Wednesday morning Cavaco Silva will receive the leaders of the main unions, Arménio Carlos (CGTP-IN), and Carlos Silva (UGT).
Diário de Notícias
«Six hospitals without air conditioning as temperatures soar to 35º», reports Diário de Notícias, in a health story focusing on the financial crisis and cuts affecting Portugal’s National Health Service or SNS. Cuts left many hospitals over the heat wave of the past week without air conditioning, particularly key Lisbon hospitals such as São José, and in the north in Viseu, prompting patients having to be moved from wards to cooler parts of the hospitals in question. In Lisbon’s Santa Maria hospital the air-conditioning actually broke down affecting the consultations area.
Jornal de Notícias
«Cavaco Silva pressured from within and without», reveals Jornal de Notícias which reports that left-wing opposition partners called on the President to dissolve Parliament and call elections following last week political crisis. Socialist leader of the opposition, António José Seguro, said on Monday that a second bailout was “inevitable” and should be negotiated by a new government. In Brussels the leader of the Eurogroup argues that “stability is crucial” to keep Portugal on the right track. Following his party’s meeting with the President, PCP communist party leader Jerónimo de Sousa said on Monday that “no one could understand why the President of the Republic didn’t dissolve Parliament and call snap elections since the country “was going through an unsustainable situation.” The left-wing Left Bloc party (BE) also advised Cavaco Silva to call early elections on September 15, while the Greens argued that the only way forward was to dissolve parliament and call elections too.
«Brussels is preparing second line of credit for Portugal without the IMF», reports Porto daily Jornal de Notícias citing the Spanish daily “El Pais” which reports that the European Commission is preparing a second bailout for Portugal. Quoting two “high up European Community sources”, the Spanish daily states that the bailout will be a “soft one” and will serve to avoid “a traumatic” transition back to the financial markets for Portugal next summer.
i
«Germany pips Cavaco to the post by giving green light to reshuffled government», reports i, as PSD heavyweights support Paulo Portas’ reinforced powers. Cavaco Silva is still receiving parties and trade unions and business organisations but Brussels and Germany have given their approval and believe the political crisis has been averted. The official début of Maria Luís Albuquerque at the Eurogroup meeting on Monday was described as a “party” by the newspaper when the new Finance minister was greeted with a warm welcome.
«Portuguese say corruption has increased in Portugal» says i after a study reveal that 70% of Portuguese believe corruption to be a “serious or very serious problem” in the public sector.
Diário Económico
«Government wants public spending cuts under €4,7bn in State reform», reports Económico making the goals for cutting down the deficit for 2014 more flexible and enabling a softer and less brutal approach to reforming the State. The premise is that savage cuts of €4.7bn are not achievable in such a short space of time, wanting now to renegotiate an adjustment to both the extent and speed of the cuts with the ‘troika’ which will have the final say and must give the green light go-ahead to any changes to those policies already laid down in the adjustment programme. This is “a new policy architecture” said a source close to the process. After the exit of former Finance minister, Vítor Gaspar last week the ensuing political crisis dictated a government reshuffle and handed the leader of the CDS-PP coalition party partner, Paulo Portas the as yet un-ratified post of Vice President and coordinator of relations with the ‘troika’. The amounts of cuts initially agreed with the troika are now likely to be downsized.
«Banif slumps 13% in the wake of capital call», says Diário Económico, as the conditions of a capital injection is scaring away institutional investors, denting the value of shares. Banif shares on Tuesday plummeted 12,79% to 7,5 cêntimos not in line with Portugal’s modest gains in which the PSI 20 gained more than one per cent overall.
«Tax man calls over 160,000 tax payers to justify their IRS returns» says Diário Económico, as around five per cent of tax payers who handed in their IRS tax forms in the first phase have been called in to justify the numbers relative to their income in 2012. The goal is to check if the amounts put down tally with those revealed by other entities and information on invoices.
Jornal de Negócios
«Stock market climbs more than one per cent and has already recovered the losses caused by Portas’ resignation», reports Jornal de Negócios, which stated that it took not even five sessions for the stock market to get back to normal.
«Mário Soares furious with new Patriarch for not having stopped the applause for Passos Coelho and Cavaco Silva», reports the Porto paper as the revered PS leader commented about the first Mass given by Lisbon’s new Patriarch, Dom Manuel Clemente. Clemente was a “scandal and showed unacceptable shame” adding that he feared “a return to Fascism”.
A Bola
«FC Porto taking a close look at Bruma», writes A Bola, as the ongoing saga involving Sporting’s Bruma continues with a deadlock over the player’s future. The temptation to invest in purchasing the Sporting ‘crack’ player is rising and while the Lions cannot agree on the contract details the player is also being eyes eagerly by other European clubs.
O Jogo
«Lions press ahead with Islam Slimani purchase», reports O Jogo, as Algerian press sources insist that SAD has presented a formal offer to sign the forward player from Chebab Belouizdad.
Record
«Astori ‘blocks’ Garay at Manchester United», says Record, which cites the British daily “Daily Express” and fresh details that could influence the negotiations between Manchester United and Benfica for the transfer of Ezequiel Garay, adding that the English team has shown an interest in hiring Davide Astori.