After weeks of speculation, the interest rate in the eurozone will be slashed to 0.15% by the European Central Bank.
The Bank also announced a negative interest rate of –0.1% for banks depositing money with the ECB. The objective is to encourage banks to lend more money instead of paying the ECB to store their funds.
The package of measures is designed to stimulate growth and stave off deflation.
The cost of houses in the UK is reported to have gone up nearly £225 every day in May, the largest rise in more than a decade.
The average UK property value rose by 3.9% last month to £184,464, from £177,648 at the end of April, according to figures released by the Halifax.
Portugal’s Prime Minister clearly is fed up with the Portuguese Republic’s Constitutional Court whose judges have developed a habit of knocking back his austerity proposals, saying they are ‘unconstitutional.’
Pedro Passos Coelho today launched an unveiled attack on this crucial body in Portugal’s fledgling democracy and advocated the need for "much greater scrutiny" in the selection process for those judges who guard the Constitution of the Republic.
Former bank chief Jardim Gonçalves is to lodge an appeal against his conviction in the Millennium BCP case.
The founder of bailed-out Banco Comercial Portuguese (Millennium BCP) Jorge Jardim Gonçalves clearly disagrees with the decision made by the judges at the criminal court in Lisbon, who convicted him for the crime of market manipulation, but acquitted him of forgery charges.
Vila do Bispo residents have started to paint around holes in the streets in protest at a council that has concentrated on fixing the area around the Câmara building, but says it has no more money for road repairs or street lighting.
Residents of Vila do Bispo say that the size and number of holes in their roads now are endangering pedestrians and vehicles, so they decided to paint them to highlight their crumbling environment.
The Parliamentary Group of the Communist Party (PCP) again have pushed the Government on the lack of human resources in the Algarve, claiming the Ministry of Health has totally ignored the lack of medical and technical assistants, a situation highlighted in earlier complaints and questions to parliament.
According to information gathered by the committee in a January meeting with the executive director and clinical director of the Health Centre Group for the Algarve’s east and west areas, the health centres in Lagoa, Lagos, Monchique, Silves, Vila do Bispo, Faro and Tavira should have 112 and 113 operational assistants.
Now in its 35th year, the Fatacil show is to go ahead this August in the municipal park with the council claiming that a re-vamp will create ‘the best fair ever.’
Despite the unfavourable current economic climate, organiser Fatasul is positive Fatacil will be a success and says that 80% of the stands already have been booked.
Britain’s National Savings & Investments has changed its rules and can now send payments to its users’ bank accounts abroad.
Previously, interest payments and Premium Bond prizes could be transferred only to a UK bank account or sent by cheque to a foreign postal address.
