CGD’s recapitalization not included in the deficit

ECO News,

Marques Mendes assures the Statistics Portugal agreed the amount injected in CGD will not be accounted for in the deficit. He also revealed that growth will be very positive in the first quarter.

Portugal has been “junk” for 2,118 days.

ECO News,

Only DBRS gives Portugal the rating which keeps it connected to the ECB. S&P, Fitch and Moody's continue to give Portugal the "junk" status. It has been over 2,000 days. When will it be enough?

Aethel Partners wants to block the sale of NB

ECO News,

Aethel Partners, the British society headed by Ricardo Santos Silva, told its lawyers to block the sale of Novo Banco to Lone Star. The company had been interested in acquiring the transition bank.

Haitong must go to school, says the BdP

ECO News,

After announcing their restructuring plan and the capital increase, Haitong will also have to go to school: since their managers are not from Europe, they must learn the European banking rules.

Portuguese public debt plunges in 2021. How?

ECO News,

In the Stability Programme, the Government says they will, in just five years, cut down public debt by more than 18 points. How can the mystery of public debt reduction be explained?

Income rise and deficit reduction in Portugal?

ECO News,

The Finance minister is counting on 248 million to progressively remove the civil servants career promotions' freeze; he is also counting on 200 million to improve lower incomes.

Portugal will once again issue short-term debt

ECO News,

The Portuguese Treasury and Debt Management Agency wants to raise up to 1,250 million euros in 3-month and 11-month's Treasury bills. It will do so only two days after DBRS rates the Portuguese debt.

Agreement on swaps: 2.9% for Santander’s loan

ECO News,

Portugal has reached an agreement with Santander concerning the swaps conflict. The Government will pay 529 million in outstanding interests and will maintain swaps currently worth 1,119 million.

Galp’s CEO earned 1.6 million euros in 2016

ECO News,

Galp's CEO earned 1.6 million euros in 2016, which means the executive committee's income increased 10%. From the PSI-20, so far, only Mexia's salary, EDP's CEO, surpassed Gomes da Silva's earnings.

Vestager: nationalizing NB was never on the table

ECO News,

The European commissioner for Competition says the government never presented plans to nationalize Novo Banco - a solution, she says, would go "against the commitments made on the resolution of BES".

Novo Banco already has a new management

ECO News,

ECB approved almost every new member of the bank's administration. It will have four new managers and keep two from the previous committee. Rui Cartaxo is chairman and the CEO is António Ramalho.