Public sector indebtedness shrinks by €900 million

Banks “must renegotiate mortgages when interest rates exceed stress tests”

PM António Costa has announced the next Council of Ministers will approve a law forcing banks to renegotiate mortgage contracts when interest rates “rise beyond the ‘stress’ test to which families were subjected”. The idea is to protect families, he told parliament, during blistering questioning from CHEGA leader André Ventura, who suggested that after all the pain Portuguese taxpayers have had to bear bailing out banks, inflicting huge mortgage increases on them was a form of theft.