Related News: Europe · Bonds
Portugal Seeks EU Bailout, Joining Greece, Ireland
By Joao Lima, Jim Silver and Anabela Reis - Apr 7, 2011 5:48 AM GMT+0900
Portugal has asked the European Union for a bailout after a domestic political crisis helped push borrowing costs to record levels, making it the third euro region country to seek a rescue.
Showing posts with label Portugal. Show all posts
Showing posts with label Portugal. Show all posts
Wednesday, April 6, 2011
S&P: Portugal: What S&P's Downgrade Means For The Country's Banks
Portugal: What Standard & Poor's Downgrade Means For The Country's Banks (00:20:59 min)
Since March 28th, 2011, we have downgraded, by several notches, the five Portuguese banks that we rate to 'BBB-'. We have also lowered the short-term ratings to 'A-3'. The outlooks on four of the five banks are negative. One bank still remains on CreditWatch negative. What prompted our rating actions on the banks? In this podcast, Director Elena Iparraguirre explains our rationale, why we feel sovereign risk and banks' ratings are so tighthly correlated, and our main expectations for the Portuguese financial system.
Listen
Since March 28th, 2011, we have downgraded, by several notches, the five Portuguese banks that we rate to 'BBB-'. We have also lowered the short-term ratings to 'A-3'. The outlooks on four of the five banks are negative. One bank still remains on CreditWatch negative. What prompted our rating actions on the banks? In this podcast, Director Elena Iparraguirre explains our rationale, why we feel sovereign risk and banks' ratings are so tighthly correlated, and our main expectations for the Portuguese financial system.
Listen
Wednesday, March 30, 2011
WSJ: Portugal Hints at Deficit Revision
MARKETS|MARCH 30, 2011
Portugal Hints at Deficit Revision
By PATRICIA KOWSMANN
LISBON—Portugal's statistics agency said it plans to make "accounting changes" in a report to be submitted to the European Union's statistics agency by week's end, a revision that could indicate a wider 2010 budget deficit and which would further undermine the credibility of the country's embattled government.
Portugal Hints at Deficit Revision
By PATRICIA KOWSMANN
LISBON—Portugal's statistics agency said it plans to make "accounting changes" in a report to be submitted to the European Union's statistics agency by week's end, a revision that could indicate a wider 2010 budget deficit and which would further undermine the credibility of the country's embattled government.
Tuesday, March 29, 2011
WSJ: S&P Downgrades Portugal, Greece
MARKETS|MARCH 29, 2011, 3:31 P.M. ET
S&P Downgrades Portugal, Greece
By GEOFFREY T. SMITH
LONDON—Rating agency Standard & Poor's on Tuesday delivered a damning verdict of the euro zone's new plans for resolving sovereign debt crises, downgrading two of the euro zone's most troubled member states.
S&P Downgrades Portugal, Greece
By GEOFFREY T. SMITH
LONDON—Rating agency Standard & Poor's on Tuesday delivered a damning verdict of the euro zone's new plans for resolving sovereign debt crises, downgrading two of the euro zone's most troubled member states.
Monday, March 28, 2011
Bloomberg: Portuguese Bailout Costs More Than Money Alone: Matthew Lynn
Related News: Economy · Finance · Law · Eastern Europe · Europe · France · India & Pakistan · Latin America · U.K. & Ireland · U.S. · Opinion · Funds · Municipal Bonds · Matthew Lynn
Portuguese Bailout Costs More Than Money Alone: Matthew Lynn
By Matthew Lynn - Mar 29, 2011 8:00 AM GMT+0900
Bloomberg Opinion
Is it 50 billion euros? Or perhaps 70 billion euros? The cost of bailing out Portugal varies according to who makes the calculation. No one will know the real price until officials from the International Monetary Fund and the European Central Bank tell us.
Portuguese Bailout Costs More Than Money Alone: Matthew Lynn
By Matthew Lynn - Mar 29, 2011 8:00 AM GMT+0900
Bloomberg Opinion
Is it 50 billion euros? Or perhaps 70 billion euros? The cost of bailing out Portugal varies according to who makes the calculation. No one will know the real price until officials from the International Monetary Fund and the European Central Bank tell us.
Thursday, March 24, 2011
WSJ: Portugal's Woes Turn Spotlight on Spain
EUROPE NEWS|MARCH 24, 2011, 5:32 P.M. ET
Portugal's Woes Turn Spotlight on Spain
By MARCUS WALKER And JONATHAN HOUSE
Portugal's admission that it will probably need a financial bailout raises a question that will shape the outcome of the euro zone's debt crisis: Is Spain next?
Portugal's Woes Turn Spotlight on Spain
By MARCUS WALKER And JONATHAN HOUSE
Portugal's admission that it will probably need a financial bailout raises a question that will shape the outcome of the euro zone's debt crisis: Is Spain next?
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