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Today's News



Irish tourist found dead at Albufeira apartment

albufeira2An Irish holidaymaker was found dead in his Albufeira apartment this morning, Monday May 22nd.

The local Judicial Police are investigating the death, but it is not known if it is considered suspicious.

 
Novo Banco lost €10 million a week over the first quarter

novobancoshinylogoLame duck, Novo Banco, lost €10 million a week in the first quarter of 2017 but is proud to announce this was 47.5% less than it lost over the same period in 2016.

What it’s directorate calls a ‘recovery with reduced costs and the decrease of provisions and compensation,’ to many will be a familiar scenario of acute fiscal hemorrhage resulting in €131 million in red ink accumulated between January and the end of March.

 
Portugal to exit the EC's naughty corner

euPortugal's budget deficit fell below 2% last year so European Commission has announced the country is a poster boy for its austerity policies and has recommended that it is allowed to exit the EC excessive debt procedure.

After its 2011 bailout, Portugal suffered harsh austerity policies under the Passos Coelho government which was kicked out in 2015, to be replaced by a milder form of austerity under the Socialist Party leader, António Costa.

 
Portugal to vote on Spain's Almaraz nuclear power station

nuclearPortugal's Green party has put forward a motion that the government formally requests the Spanish government to decommission the Almaraz nuclear power station that lies just100kms over the border.

The motion has been accepted and parliament will vote on the matter, despite two ministers stating last week to a committee of inquiry that Portugal can not interfere in Spain’s domestic nuclear power plans.

 

 

Algarve Daily News