08 July 2011
President Aníbal Cavaco Silva considered Moody’s attribution of junk status to long-term Portuguese bonds as unjustifiable and wants a “European response” to the rating agency’s rule. A presidential aide told Lusa news agency, Cavaco Silva, a former economics professor, saw “no minimal justification” for Moody’s rate cut on Tuesday. Cavaco Silva believes that “risk assessment […]
07 July 2011
Moody’s Investors Services downgraded Thursday the ratings of Lisbon and Sintra cities, in mainland Portugal, and the two autonomous regions of Madeira and Azores. Moddy’s downgraded Lisbon in four levels from a Baa1 to Ba2, attributing a “negative outlook” to the capital city. Sintra city, in mainland Portugal, was also downgraded by Moody’s on Thursday, […]
07 July 2011
The decision by Moody’s to downgrade Portugal’s sovereign debt to junk status has angered many Portuguese Facebook users who are mobilizing to protest against the rating agency. Since Wednesday, a number of new pages were created on the social network appealing to users to intervene in creative ways, from establishing discussion forums, to taking action against […]
06 July 2011
Mood’s Investors Service downgraded Portugal’s sovereign debt Tuesday to junk status, to Ba2 and Baa1, a sign the European crisis is deteriorating. A debt rating below Baa means the issuer’s debt no longer is considered investment grade. Moody’s said the downgrade was triggered by “growing risk” that Portugal would need a second bailout by the rest of Europe, […]
05 July 2011
Former Portuguese President Mário Soares warned Monday that if Europe does not change its “paradigm” quickly it risks collapse. He also cautioned that Portugal could face “bailout” agitation similar to Greece. “If Europe doesn’t change its paradigm in the short term, if it doesn’t restore order in markets and ratings agencies, we may enter into […]
05 July 2011
Angolan immigration authorities have detained 42 Portuguese nationals working without proper documentation and plan to deport them by the end of this week, reported Lusa News Agency. Simão Milagres, the spokesman for Luanda’s Foreign Migration Services (SME), told Lusa the group of Portuguese, employed by Portuguese construction company PREBUILD, was taken into custody Saturday. The […]
