'Portugal Laden With $293 Billion Debt Exits Bailout Plan' read the Bloomberg headline followed by a no-nonsense analysis of Portugal's progress and financial exposure.
"Portugal exited its international bailout program yesterday, regaining the economic sovereignty the nation lost after the European debt crisis erupted while facing enduring challenges to its finances.
Britain today has 30,000 wind turbines onshore, an increase of 13% over the last year.
Analysis of the numbers was conducted by RenewableUK, the wind industry body, but the number is at variance with that of 4,399 quoted elsewhere in the industry.
The crisis has passed by the super-rich in Portugal who have seen their assets increase despite the country’s impoverishment due to a series of tax rises and austerity measures.
The Leona Helmsley truism, “only the little people pay taxes” may be true as tax-efficient schemes and the relocation of head offices to fiscally friendly Holland has helped many of Portugal's top company's avoid Portugal's repressive fiscal regime.
The President of the Republic of Portugal, Cavaco Silva, said today that Portugal has to "quickly grab the open doors" left by his visit to China and must use the goodwill shown by China’s leaders to strengthen Luso-Chinese cooperation.
"I think at this point in Portugal there is some recognition that a deepening of relations with China is important for our economic growth and can solve some problems such as unemployment," said Cavaco Silva, speaking in Macau at the end of his far eastern visit.
Two Germans, 65 and 75-years old were rescued on Saturday afternoon after their inoperable boat was smashed on the rocks at Praia do Alemão between Portimão and Alvor.
The two men had to be evacuated by a rescue team of firefighters from Portimão who has to winch the men to safety up the cliff due to the hazardous sea conditions below.
House prices in Portugal were deemed to be underpriced, according to the Organisation for Economic Cooperation & Development.
Research by the organisation on economic prospects as well as house prices resulted in an indication of where property is overpriced and underpriced.
Klaus Regling, the chief executive of the European Financial Stability Facility* commented that Portugal has indeed "regained sovereignty" and will achieve a "long period of sustained growth," but warned that the current euphoria over the exit from Troika oversight must not mask the fact that the state reforms must continue.
The European Financial Stability Facility supports a third of the loans to Portugal and Regling said he was convinced that the country will reach a "long period of sustainable growth," provided that it continues the reforms.
The multi-millionaire Manchester United striker Wayne Rooney is recovering from injuries in Vale do Lobo where the full England squad is to train from the 19th to the 23rd of May.
Some players are arriving early as they have property in the Algarve and will get in some relaxation before the hard work starts.
