At last someone in charge has spotted that the Bank of Portugal remains ill-equipped in its role as regulator of Portugal’s financial system, especially when it comes to banking oversight.
Prime Minister António Costa acknowledged today that the current governance system shows deficiencies at the Bank of Portugal.
Eurozone businesses are on course to end the year in positive mode
Growth picked up markedly in the final quarter, making it the strongest quarter for nearly five years, according to the respected Markit survey.
The Minister of the Sea, Ana Paula Vitorino, has said she is very satisfied with the 2016 fishing quota agreement reached in Brussels and considering it 'a good result for Portugal' taking into account the original cuts proposed.
Vitorino achieved an overall increase of 11.4% in its 2016 quota for national waters.
More babies were born in Germany in 2014 than in any of the last 25 years.
Women there gave birth to an average of 1.47 children, the highest rate since reunification in 1990 where there was a mini baby boom, according to the Federal Office for Statistics.
Prime Minister António Costa today assured Banif account holders that their funds are safe. This has not stopped thousands of clients withdrawing their cash amid fears that the bank is on the point of collapse.
Costa was not so comforting to those with shares in the troubled lender, the taxpayer being the major shareholder with 60.5% of Banif’s stock, as any rescue after Jan 1st 2016 might involve losses for shareholders and certain classes of depositors.
Italy’s coffers were down by €122 billion this year alone because of people and businesses failing to pay tax.
That figure was presented to the Italian government by the employers’ organisation Confindustria.
Former prime minister José Sócrates has denied that the €23 million deposited in Switzerland in 2010 was his, "This money is not mine, it's my friend Carlos Santos Silva’s. Full stop."
Sócrates also said that at some point in the future he willl be taking legal action against the Portuguese State and claiming damages.
Despite Banif’s management telling everyone that everything is just fine, while wringing an apology from TV24 whose recent report alluded to troubled times for the Madeiran bank, the Prime Minister António Costa this evening has called party leaders to a emergency meetings to discuss - Banif.
Costa is receiving parliamentary leaders at his official residence in São Bento “to analyse the financial situation at Banif,” according to official government sources.
