Público
«Government admits to pensions plan proposal for public sector workers» reports Público which will be presented to unions in meetings that have been scheduled. The second meeting between the three main political parties, the PSD, CDS-PP and PS, to hammer out the details of a ‘National Salvation’ pact was difficult and held under the eye of the President of the Republic, Aníbal Cavaco Silva. The CDS-PP party has cancelled its annual congress indefinitely to send out a clear message of calm to its rank and file party faithful and the nation. On other news the newspaper reports that average exam results for the 9th Grade were disappointing in Maths and Portuguese with marks in Portuguese falling to their lowest levels ever. Maths teachers call on the government to set exams that are more tailored to the job market and those taking the exams.
Correio da Manhã
«Public sector workers get a €119,000 payout cap», writes Correio da Manhã, over the new rules on redundancy package compensation for thousands of state employees who are to be let go in a bid to slim down the State. On the continuing BPN bank scandal, in what the tabloid calls an “extravagant act” the State allegedly paid €26.8m for the cost of minting commemorative UEFA Euro 2004 coins in partnership with BPN . Once nationalised, these coins were given as a bank loan guarantee from Caixa Geral de Depósitos, but now the coins are worthless and no one wants them.
Diário de Notícias
«Parents risk rise in rents if adult children don’t move out» reports Diário de Notícias, on regulations governing the new Rental Law which has tax implications that came into force this week. The statement was made by the tax authorities on Monday whereby tenants have to show proof of income and all those who share the same tax address count in the tax man’s calculations.
«Cavaco Silva appoints watchdog for cross-party negotiations» says Diário de Notícias as the President, Aníbal Cavaco Silva, appoints David Justino his secretary to inform the Head of State about the negotiations between the PSD, CDS and PS parties that make up the new ‘National Salvation’ caretaker government. The parties say they have identified the “key issues” to enable them to meet the “national salvation compromise” proposed by the President last week in a televised address, negotiations which will be watched over by the secretary and former PSD Education minister David Justino.
Jornal de Notícias
«Murders skyrocket» reveals Jornal de Notícias as the economic crisis has seen homicides increase by 20% in the first quarter of 2013 alone with 71 deaths since January as the Porto newspaper reports that yet another woman been killed by her husband. Social benefits lift 2.9 million (almost a third of the Portuguese population out of poverty).
i
«PSD puts reform of State on ice and awaits the PS», reports i, referring to the new caretaker Government involving the three main political parties, the PSD, CDS-PP and PS which have until the weekend to come up with a plan to govern Portugal for the next 12 months and until the bailout programme is successfully completed, a cross-party cooperation which many analysts admit could be a tall order.
«Portuguese bankers are among the highest paid in Europe» states i reporting that 11 Portuguese bankers earned over one million euros in 2011, according to the European Banking Authority.
«BPN – Left Bloc party accuses the Government of having given away €25m to BIC» claims i stating that rules were changed in order to create a surplus in the BPN’s pensions fund with the balance, instead of going to the State, was channelled to BIC Portugal following the purchase of BPN.
Diário Económico
«Rent tenants will have to go back to the tax office to have their gross rents reassessed» writes Diário Ecónomico in order to avoid paying more taxes since taxes are now worked out on the number of individuals living at a particular address.
«State redundancy packages are as high to those in the private sector» reports Diário Económico, stating that the Government has already guaranteed that the calculation for severance packages for public sector workers will be the same as in the private sector while unemployment benefit could be offered for three years.
«Belém and Government begin national salvation meetings» reports Diário Económico as the second meeting between the PSD, PS and CDS for the national salvation pact takes place in the presence of David Justino, advisor to the President of the Republic, Aníbal Cavaco Silva.
«TAP spent over a million on putting up Brazilian managers» reports Diário Económico which says that in 2012 the cost of putting up four managers in accommodation set the airline back €341,000 per annum which totalled over €1.1 million over four years.
Jornal de Negócios
«Small banks attracting big depositors», reports Jornal de Negócios,as new savings accounts in smaller banks soar 54% as depositors look for better deals and greater protection for their savings and cash.
«Sales threaten to be the last business for many shops» says Jornal de Negócios as the summer sales season got under way nationwide on Monday but could terminate in many shops closing their doors because of the crisis after having offloaded their stock.
«Political crisis puts State Budget 2014 at risk» claims Jornal de Negócios as the ‘troika’ of international lenders sends out a clear message to Portugal that there is little room for relief over meeting the country’s agreed financial obligations to slash €4.7bn from State spending. But with falling tax revenues and increased social and welfare spending the Government will be hard pressed to come up with the cash and balance the books for the State Budget for 2014. The business newspaper warns that the Portuguese State might simply be unable to meet the agreed spending cuts and default because of a lack of political will and funds. The ‘National Salvation Compromise’ being hammered out between the larger coalition partner in the Government, the PSD, the minority coalition CDS-PP partner and the opposition PS party this week will not only include policies for the next 12 months until the end of the Financial Adjustment Programme, but also the post-‘troika’ period until early elections are called in July 2014 and the State Budget for 2014 is agreed. The leader of the CDS-PP, Paulo Portas had already made it clear that the State Budget for 2014 will have to be “very different” from 2013, namely with regards to the fine balancing act between cutting State expenditure to meet international bailout obligations and demanding extra sacrifices from companies and hard-hit families and pensioners, which the CDS-PP has reservations about and is something that the PS, for a change, is likely to agree with.
A Bola
«Pereira Cristóvão gets Sporting into hot water» as the club faces being in the court dock over the case instigated by the Portuguese Football Federation following the involvement of Marítimo. The former football boss will have to stand up in the defendant’s box in the so-called ‘Cardinal Case’ after the Council of Justice at the Federation ruled that the club is responsible for the actions of its former vice-president.
Record
«Benfica is a big step», reports Record, referring to the player Fariña who has given his first interview at Benfica wearing the club’s colours. The transfer fee for the Argentinean player was set at €3.5 million.
O Jogo
«Fariña diverted to Luz», says O Jogo, also leading with the story about the Argentinean crack player who had an offer from Sporting which was successfully out- bidded by Benfica in a €3.5 million deal. The mid-fielder is said to be flying to Lisbon on Thursday.