Banco de Fomento can not serve for the Portuguese banking clean sheets

The establishment of the financial institution, Banco de Fomento, entails risks for the Portuguese financial system.

It is necessary to prevent commercial banks do not use European funds to replace the bad credit good credit and so do cleanings balance.

Juros dos Bilhetes do Tesouro a um ano caem para mínimos de 2009

Os custos dos empréstimos em Portugal de um ano caíram aos níveis mais baixos desde o final de 2009, muito antes de meados de 2011 - dato do início do socorro do país.

O leilão, em que a agência de dívida IGCP vendeu todos os € 1.250.000.000 a 3 meses - e bilhetes do tesouro a 12 meses em oferta, desde que as novas provas que Portugal está a recuperar a confiança dos investidores, e se prepara para deixar o resgate financeiro para trás e como a sua economia se irá recuperar gradualmente a partir da sua pior recessão desde os anos 1970.

O Leilão do Tesouro de hoje, no qual o BCP participou, foi mais um passo neste processo, apesar de, na semana passada a reabertura aos empréstimos obrigacionistas, constituiu um sinal muito mais forte de todos os progressos realizados até agora.

Portugal vendeu os seus primeiros títulos do ano na semana passada, marcando um passo importante na preparação do terreno para Lisboa para voltar a financiar-se plenamente nos mercados de obrigações após o término do resgate em meados de 2014.

O IGCP também já afirmou que pretende retomar os leilões de títulos no primeiro semestre de 2014.

Os rendimentos de títulos em Portugal apresentam tendência de queda, impulsionados pelo crescente otimismo da diminuição da crise na zona euro e que Lisboa pode ser capaz de sair do resgate sem problemas até meados de 2014, conforme previsto.

O IGCP emitiu € 240.000.000 a 3 meses e 1,01 bilhões de euros em notas de 12 meses no leilão. A procura superou a quantidade colocada por 4,71 vezes em títulos a 3 meses e 2,26 vezes na maturidade mais longa, disse que o IGCP.

Portugal, a troika e o programa de ajustamento económico

Portugal, a Comissão Europeia, o Banco Central Europeu e o Fundo Monetário Internacional (troika) concordaram em implementar um programa de ajustamento económico. 

A recapitalização do setor bancário português faz parte desse programa. A necessidade de apoio do Estado ao setor bancário português foi, em grande parte, causada por uma conjugação da difícil situação macroeconómica, a crise da dívida soberana e um aumento dos requisitos de capital para os bancos (racio core tier 1). 

As medidas de recapitalização permitiram que os três bancos portugueses (CGD, BCP e BPI), em conformidade com os requisitos do teste de esforço (stress tests) aplicáveis ​​e para manter o buffer soberano que foi solicitado pela Autoridade Bancária Europeia. 

Dado que a CGD, BPI e BCP receberam auxílios estatais, foram obrigados a submeter-se aos planos de reestruturação (recapitalização) da Comissão, que estabelecem as medidas exatas de reestruturação que são tomadas para restaurar a sua viabilidade a longo prazo, sem voltar depender do apoio do Estado.

União Europeia

Na União Europeia temos:

• 9% da população mundial
• 25% do PIB global
• 50% do gasto social do mundo inteiro

The problems of Portugal can't be solved in three years

The accumulated imbalances will take another ten or fifteen years to be resolved. The reform effort of the economy and to the consolidation of accounts of the State will have to be pursued in the next ten to fifteen years regardless of which party is in power.

Any Constitutional leads must be replaced by measures that are likely to have more adverse effects on the portuguese economy.

This imbalances and distortions was accumulated over decades and can't be solved in three years adjustment arising from external assistance.

Ano Novo, Vida Nova

Mas...

O que vai acontecer aos salários e pensões em 2014 ?

Os impostos vão aumentar ?

A electricidade e o gás vão ficar mais caros ?

Os juros da casa vão subir ?

Assim,a  factura doméstica vai ficar mais cara.

Falar ao telefone ou ver televisão vai custar mais a partir de janeiro de 2014. Os operadores de comunicações já comunicaram as subidas de tarifários quer para os telemóveis, quer para os serviços fixos (voz, internet e televisão).

O que tem sido feito para evitar a tendência para a redução dos salários e pensões ?

De acordo com o Relatório do Banco de Portugal para dezembro, a receita fiscal do Estado aumentou 8,4% em relação ao período homólogo do ano anterior, com destaque para o agravamento do IRS.

Foi o sector financeiro, o que registou maior aumento do desemprego. 

4.240 pessoas provenientes de actividades financeiras e seguros, estão à procura de novo trabalho.

Between 100 to 120 thousand Portuguese emigrated this year

Between 100 to 120 thousand Portuguese left the country this year, a very high emigration but remained stable due to lack of employment in other countries.

Although there are no official figures, the Portuguese Government admits that the number of Portuguese emigrants is similar to last year - about 100-120 thousand.

European countries, especially France, are still the main destinations of Portuguese, with Angola also attract similar numbers to last year, around 25 thousand.

No one is to check the output of Portuguese emigrants to Brazil, mainly due to lack of equivalence for certain professions, such as engineers and architects, who can not exercise that country.

About Mozambique, also the values ​​remain the same for 2012, ie, three to four thousand Portuguese were living this year to the African country, where the volume of construction has not increased much.

Increasing exports is a positive indicator in increasing production and creating jobs in Portuguese soil.

The reduction of wages in Portugal and the troika

Troika insists on wage cuts in the private.

Portugal runs the risk of concluding a further adjustment program, the third in less than half a century, without changing some of the fundamental aspects of their economic architecture.

This tenth exam troika nothing seems to have happened. The government ceased to be an active agent of structural reforms and left the work incomplete. And unfortunately, we are only prepared to win with the euro when we allow wages fall as well as we allow wages to rise.

Although the social partners and even the government are against the idea, the 10th report of the troika review, recently published claims that there is more flexibility in the labor market.

International creditors argue, therefore, that the adjustment of the economy must be based on " increased flexibility in product and labor”, an expression that can lead to a new troika pressure to lower wage income in the private sector.

The purchasing power of the Portuguese was 29 % below the OECD average in 2011

The purchasing power of the Portuguese gives the gross domestic product (GDP) or value of all final goods and services produced in a given year.

Between 2008 and 2011 the Portuguese were poorer compared with the purchasing power of the average of OECD countries.

Gross capita expressed in Purchasing Power Parity (per capita GDP), per domestic product of Portugal in 2011 stood at 71% of the average of the Organization for Economic Cooperation and Development .

This indicates that in that year, the purchasing power of the Portuguese was 29% lower than the average of the 47 countries covered in this indicator released on Wednesday by the OECD, which uses a new methodology to calculate.

A new methodology for this indicator, which is published every three years incorporates new weights for the three thousand goods and services that make up the basket of prices that is integrated in GDP.

In 2008, this same indicator placed Portugal with a GDP per capita of 73 %, which means that the Portuguese viewed in this lapse of three years, the purchasing power recoil compared to an OECD average.

Still, the Portuguese suffered a less severe drop than that experienced in other peripheral countries of the euro. The purchasing power of the Greeks, which was 14% lower than the average in 2008, is now 26 % lower than in 2011. In Spain the reduction was also sharp, from 4% to 11% below average.

Luxembourg, partly because it is a financial center and the territory where many foreigners residing in neighboring countries work, has by far the highest GDP per capita , 146 % above the OECD average. It follows Norway (72%) and Switzerland (43%). Mexico and Turkey are the two countries with the lowest level of life of the OECD, with a power of less than half the average purchase.

The countries that most improved their relative position between 2008 and 2011 stand out Israel (from 26% to 16% below average), Mexico (56% to 52% below average) and Poland (48% to 40% below average) .

Among the larger countries highlights the change in the UK, which in 2008 had a purchasing power of 7% above average in 2011 and is 3% below average. Germany (from 14% to 8% above average) and France (1% up to 1% below average) also worsened.

It remains to wait for the next triennium.

Portuguese Government moves forward with termination for senior technicians of the State in 2014

The Government of Portugal will open a new program termination in the State for senior technicians in early 2014 which will have the same conditions of the program which ended in November.

The information disclosed was sent this morning by Secretary of State for Public Administration, during a meeting of more than two hours with the Common Front of Trade Unions of Public Administration.

Was today handed a new ordinance terminations for senior technicians from 2014 and remaining categories, indicated by service.

Are employees of the health, education, central services, leaving out only doctors, nurses, employees of the Tax and Customs Authority and local government.

One third of the Portuguese never used the Internet

One third of the Portuguese never used the Internet, the third highest of the European Union, just behind Cypriot and Polish (32 % in both cases), according to a Eurostat survey released today in Brussels.

There are, however, 69 % of nationals who delivers taxes online, probably because the citizens requesting this service to others.
Thus , over 40 % use the internet to interact with public authorities and services , primarily to deliver their tax returns ( 69 % ) , request personal documents ( 20 % ) , request social benefits ( 16 % ) and resolving issues related to education ( 9 % ) .

The same study reveals that over 60 % of EU citizens use the web daily and that the 28 member states, 79 % of households had Internet access in 2013 and 76 % had their own connection, compared with 55 % and 42 % respectively in 2007.

Only 62 % of homes in Portugal have internet connection, the fourth lowest value among the 28 Member States, where the average reaches 79 %, ranging from 54 % in Bulgaria and 95 % in the Netherlands.

The country where internet access was greater in 2013 is the Netherlands (95 % of households) and Luxembourg (94 %). On the opposite side is Bulgaria ( 54 % ) and Greece ( 56 % ) .

And if 84 % of people in Denmark uses the internet daily in Romania reveals that 42 % never used.

Walnuts and Forks

© Photographer: Favoritus | Agency: Dreamstime.com

Riscos crescentes no crédito à habitação na Grã-Bretanha

A correção nos preços das casas britânicas teve o mais rápido crescimento de risco citado pelos bancos numa pesquisa publicada pelo Banco da Inglaterra (BoE) na passada segunda-feira .

A última pesquisa semestral do banco central de ameaças económicas vistas pelos bancos, construtoras, seguradoras e gestores de ativos destaca o impacto de baixas taxas de juro sobre os preços das casas que têm subido acentuadamente.

Aumentou a perceção de risco em torno dos preços dos imóveis.

As preocupações surgem concentradas quase exclusivamente no mercado residencial, onde se foca o risco numa eventual correção dos preços das casas.

De acordo com o BoE, não existe bolha imobiliária.

O BoE informa que as duas maiores preocupações entre os bancos e outros players do setor financeiro se concentra nos níveis de dívida pública na Europa e nos Estados Unidos e a ameaça de uma recessão económica.

fonte:

http://www.bankofengland.co.uk/publications/Documents/news/2012/nr161.pdf

The Portuguese economy is no longer sinking

Unemployment declined and employment increased. The interest rates on government debt are decreasing. However the framework of the Portuguese economy has remained unfavorable in 2013. The reduction of public expenditure Portuguese declined for the third year, reflected in personnel expenses and costs of procurement of goods and services.

Ireland is out of the scope of the troika without insurance program precaution, even though it may come to use it later. The crisis in the euro area is controlled, but not resolved. Portugal is able to enter a new phase. Depends who directs the destinies of Portugal. The government, the opposition, the President and the Constitutional Court. But still the deteriorating situation in the labor market, especially the reduction of the workforce, job losses, significant growth of long-term unemployment.

People talking about poor people

One of the worst things that are happening in Portugal there is a bunch of people talking about poor people who are not poor and who, on behalf of the poor, want to defend your income. 

People talking about poor people

Most pensioners are not poor and are pretending to be poor. And the real poor nobody talks or when he speaks, is to give rights to all other.

Redução dos 24 meses de fidelização contratual.

O mercado das telecomunicações, no seu estado atual, não permite aos consumidores beneficiar das várias ofertas disponíveis. 
A principal razão é a imposição pelos operadores de períodos contratuais mínimos de 24 meses e de penalizações pelo seu incumprimento.

24 Meses é um período excessivo e desincentivador da mudança de operador, penalizando os consumidores, não só porque impede novas e melhores ofertas, mas também porque não responde aos desafios da sociedade portuguesa atual.

Paralelamente, sempre que o consumidor tenta mudar de operador durante este período mínimo, são lhe cobrados encargos desproporcionados.

Public officials with cuts from 675 euros in their salaries

Portuguese Government accepts few changes to the State Budget (OE) proposed by the PSD and CDS.

Public officials with cuts from 675 euros in their salaries

The Government passed the bar from which there will be cuts in civil servants' salaries go from 600 euros to 675 euros. The disposal of the Ministry of Finance comes after several days of negotiations with the PSD bench, which had proposed that the stakes were higher minimum.

Portugal out of technical recession

The Portuguese economy grew in the third quarter, with GDP rising 0.2% over the second quarter, but still remained in negative values ​​when compared with the same period last year (same period), according with the estimate of Gross Domestic Product (GDP) in the third quarter, released today by the Instituto Nacional de Estatística (INE).

Portugal out of technical recession

This increase of 0.2% in GDP in the third quarter over the second quarter, comes after a 1.1% growth in the second quarter of the year compared to the first three months of the year.

This shows the output of Portugal's technical recession which lasted two and a half years.

However this conclusion does not solve the problem of unemployment or the pressure reducing wages.

source:
http://www.ine.pt/

Portugal has more billionaires and these are richer despite crisis

The European countries with the most billionaires are Germany (17,820) , United Kingdom (10,910), Switzerland (6,330) , France (4,490) and Italy (1,625).

The number of billionaires in Portugal - with fortunes in excess of 25 million - increased by 10.8 % to 870 people last year, despite the crisis being experienced in the country, according to a report by Swiss bank UBS.

Portugal has more billionaires and these are richer despite crisis

The "Report of the 2013 World Ultra Wealth" in Portugal confirms that not only increased the number of billionaires increased as the total value of their fortunes, from 90 to 100 billion dollars (up 11.1 %).

According to this study the increase in the number of billionaires in Portugal , one of the countries most plagued by crisis in Europe , was higher than the European average (8.7) and the value of their wealth has also increased to a value greater than the growth in average Europe (10.4%) .

The crisis seems to have been too favorable to large fortunes in the country worse off in recent years, Greece , where the number of billionaires grew by 11% (to 505) and the value of their wealth increased by 20 % (to 60 billion euros).

Rising minimum wage in Portugal

The President of the Economic and Social Council (CES), José Silva Peneda, criticizes the "obsession" of the 'troika' in reducing labor costs in Portugal and defends the rising minimum wage, opposing the position of the creditors .

If there is material that is typically social dialogue is the national minimum wage (NMW) and political power have to legislate about it. But clearly, the first sign is the social agreement that should give the social partners and have shown themselves more than available to discuss the matter, but the 'troika' does not.

Rising minimum wage in Portugal

It is important that the social partners could negotiate, the rise in the minimum wage in Portugal, currently in 485 euros .

However, they can not be applied, since it does not allow the troika until June. But all the social partners, including employers confederations, have shown themselves available to implement this increase from January next year.