Home » Posts tagged 'portugal' (Page 2)
Tag Archives: portugal
Saudi Devaluation Odds Highest In 20 Years, Kingdom Now More Likely To Default Than Portugal
Saudi Devaluation Odds Highest In 20 Years, Kingdom Now More Likely To Default Than Portugal On Monday, we brought you “Saudi Default, Devaluation Odds Spike As Mid-East Careens Into Chaos,” in which we outlined the jump in riyal forwards and widening of CDS spreads that Riyadh witnessed in the aftermath of the kingdom’s move to […]
“The Cost Is Very High”: Portugal Taxpayers Face €3 Billion Loss After Second Bank Bailout In 2 Years
“The Cost Is Very High”: Portugal Taxpayers Face €3 Billion Loss After Second Bank Bailout In 2 Years Back in August of 2014, Portugal had an idea. Lisbon would use some €5 billion from the country’s Resolution Fund to shore up (read: bailout) Portugal’s second largest bank by assets, Banco Espirito Santo. The idea, basically, […]
Presenting SocGen’s 5 Black Swans For 2016
Presenting SocGen’s 5 Black Swans For 2016 If you’re the type who likes black swans this has been the month for you. On the political front, Portugal’s Socialists, led by Antonio Costa, formed an alliance with the Left Bloc and the Communists on the way to overthrowing the Passos Coelho government and presaging a repudiation of Berlin’s brand […]
New Socialist Government Keeps Portuguese People Under The Whip
New Socialist Government Keeps Portuguese People Under The Whip Portuguese Revolution Falls Far Short The austerity imposed on the Portuguese people by the One Percent has resulted in the election of a coalition government of socialists, communists, and a “left bloc.” In the 20th century, socialism and the fear of communism humanized Europe, but beginning […]
Is the Troika About to Lose Control of South-Western Europe?
Is the Troika About to Lose Control of South-Western Europe? The Price of “Austerity” Passos Coelho, who was until Tuesday Prime Minister of Portugal, knew “what to do.” After signing along the dotted line for a €78 billion bailout he embraced the Troika’s austerity agenda with abandon. Public spending was slashed, taxes were hiked, wages […]
Anti-austerity bloc brings down Portugal’s government
Anti-austerity bloc brings down Portugal’s government Left parties vote at the end of a debate on government programs at the parliament in Lisbon, Portugal November 10, 2015 © Rafael Marchante / Reuters Portugal’s pro-austerity government has been forced to resign by a leftist anti-austerity block, despite being sworn in only two weeks ago. Proposals to […]
Portugal Refuses to Allow Elected Politicians to Take Office
Portugal Refuses to Allow Elected Politicians to Take Office COMMENT: Hi Marty, I’m another Englishman who is an avid reader of your blog and am very much looking forward to your ECM conference material later this year. As a European pouring thorough the continental news we are definitely seeing a reinforcing cycle of breakdown in government […]
Sorry Troika, Spain’s Economic Recovery Is “One Big Lie”
Sorry Troika, Spain’s Economic Recovery Is “One Big Lie” During six months of protracted and terribly fraught negotiations between Athens, Berlin, Brussels, and the IMF, the idea that Spain, Italy, and Ireland somehow represented austerity “success stories” was frequently trotted out as the rationale behind demanding that Greece embark on a deeper fiscal retrenchment despite […]
The Great Greek Fudge
The Great Greek Fudge A third Greek bailout involving loans from the European Stability Mechanism (ESM), the eurozone’s bailout scheme, is now being negotiated. The start was quite rocky, with haggling over the preciselocation in Athens where negotiations need to take place and Greek officials once again withholding information to creditors. Therefore, few still believe that it will […]
Portugal’s Debts Are (Also) Unsustainable
Portugal’s Debts Are (Also) Unsustainable Everyone seems to be focusing on Greece these days – a country so indebted that it needs even more loans to repay just a fraction of its gigantic credits. Clearly this is unsustainable and something has to give. Even the IMF agrees. But what about the other Southern European countries? Actually, […]
China Soars Most Since 2009 After Government Threatens Short Sellers With Arrest, Global Stocks Surge
China Soars Most Since 2009 After Government Threatens Short Sellers With Arrest, Global Stocks Surge Here is a brief sample of some of the measures the Chinese government and the PBOC have unleashed in just the past ten days to prop up the crashing market include: a ban on major shareholders, corporate executives, directors from […]
Did The IMF Just Open Pandora’s Box?
Did The IMF Just Open Pandora’s Box? By now it should be clear to all that the only reason why Germany has been so steadfast in its negotiating stance with Greece is because it knows very well that if it concedes to a public debt reduction (as opposed to haircut on debt held mostly by […]
Greece Rejects “Totally Unaccepetable” IMF Counterproposal Demanding Pension Cuts, VAT Hike
Greece Rejects “Totally Unaccepetable” IMF Counterproposal Demanding Pension Cuts, VAT Hike As reported earlier and as tipped here on Monday, markets will have to call off the party for now because the focus of the Greek debt deal negotiations has now shifted back to Brussels after all eyes had turned briefly to Athens on Tuesday […]
“No Deal”: Tsipras Says Creditors Did Not Accept Greek Proposal
“No Deal”: Tsipras Says Creditors Did Not Accept Greek Proposal Who could have possibly foreseen that the IMF would throw up all over the Greek “proposal”… aside from this post here “Why The IMF Will Reject The Latest Greek Proposal In Just Two Numbers” yesterday afternoon of course. In any event, moments ago Bloomberg reported that just […]
