As big-name banks pull out of Portugal, the government is reported to be preparing to sell off Caixa Geral de Depósitos (CGD) by the end of 2015. The announcement came from the workers syndicate of the CGD group, which explained the move was outlined in the government’s “letter of intent” to the IMF following the troika’s 12th and final adjustment programme evaluation. The idea was first mooted in 2011 by Passos Coelho before he became prime minister. It was dropped when the government joined forces with the CDS but was discussed frequently during the troika’s periodic visits.
November 30, 2023 Edition
PORTUGAL RESIDENT
Printed Edition