The German Chancellor Angela Merkel said that there are too many graduates in Portugal, a view criticised by leading educational figures and politicians.

The rector of the University of Lisbon, the President of the Polytechnic Institute of Oporto and the president of the board of directors of the Agency for Assessment and Accreditation of Higher Education (A3ES) all have reacted to Merkel’s assertion.

Espírito Santo Control has been condemned to the scrap heap by the Luxembourg Commercial Court as Ricardo Salgado sees his empire fall apart.

The insolvency of Espírito Santo Control is the fifth group company in less than a month to be declared bankrupt by the court under whose wing they sought refuge from their creditors and from the financial storm triggered by the failure of Banco Espírito Santo.

A group of 120 investors in the failed Banco Espírito Santo have brought a court action to demand the annulment of the resolution that split BES into two, claiming that the process was illegal.

The action was delivered to court on Monday and cites the Bank of Portugal, the Finance Minister and the Resolution Fund which became the sole shareholder of Novo Banco and a beneficiary of 'confiscation.'

The management of Portugal Post Office (CTT) today gave the go-ahead for a Post Office banking service.

The project has been talked about for ages with the Bank of Porugal giving its final approval in 2013, but only since privatisation has CTT management taken the final step in establishing a banking network across its branches.

Eurozone growth forecasts have been further slashed to 1.1% for 2015.

The previous forecast, made six months ago, was 1.7% growth.

When Romania was still locked behind the Iron Curtain, few people outside the country had heard of the Dacia car.

Today it is the fastest growing brand in Europe. Sales rose 35% in the first six months of this year, according to the European Automobile Manufacturers Association.

The anti-corruption campaign driven by China’s leaders have led to poor takings in the casinos of Macau.

October brought their worst monthly revenue performance on record and was the fifth month in a row of declining revenue.

Dwarfed by larger councils with comparatively huge incomes and even larger debts, Alcoutim council goes about its work with precision and diligence.

The border town’s budget for 2015 has been approved and will soon go for a vote from the full chamber but no surprises are expected.