Holding undeclared income outside of the UK will become harder for Britons.

The Treasury has revealed plans to make it a criminal offence for Britons to keep undeclared income abroad. Hefty fines and even prison sentences could result.

An investigation is underway in Spain over the suspected embezzlement of €1.8 billion of funds from the European Union.

Anti-corruption detectives in Andalusia believe they are investigating the country’s largest fraud ever uncovered.

A heated row has broken out in France over the presence of Roma gypsies in the country.

A leaked note from a police chief called for police to ‘systematically evict’ gypsies in the classy sixth arrondissement of Paris.

The director of the Portugal Open tennis competition today accused his creditors who have requested the insolvency of his company, João Lagos Sports, of wanting to destroy him - but they claim they only want their debts paid off.

According to the Ministry of Justice website ‘Citius’ where lawsuits and notices of insolvency are listed, at least two debtors officially have filed for the insolvency of João Lagos Sports - Events Management SA , the company that has battled to organise the Portugal Open this year.

Details of the contract between state controlled Parvalorem and Christie's covering the forthcoming auction in London of 85 Miró works have not been disclosed "because the auction house does not want any such details revealed. If the Government does reveal the deal then Christie’s may ask for compensation."

This is the official excuse from the Treasury Secretary, Isabel Castelo Branco, as she addressed circling opposition MPs in Parliament today who long have wanted a glimpse of the contract to check the taxpayer will be getting the maximum benefit from the controversial sale.

More than 7,500 families in Portugal have, in desperation, applied to consumer champion DECO for help with their finances - but only 900 could be helped.

DECO can only help if there is a "feasibility of renegotiating loans and reorganising family budgets."

The yield on five year Portuguese bonds hit low levels on Wednesday, and for other bonds interest rates are falling.

Portuguese five year debt fell 10.2 basis points to 2.51%, the lowest since 1997 when Bloomberg started accurate record keeping.

More than half Portugal’s exports of wine went to other EU countries last year, sales of €403 million, with France and the UK the main markets.

In 2013, total exports of wine grew 4% over the previous year, some €732 million, according to a new D&B report, which pointed out “the good sales performance abroad" in recent years.