Development bank at stake

The government’s project to create a new public bank to finance small and medium companies and boost industrialisation has now reached a standstill, as the Portuguese Minister of Finance Vítor Gaspar will have to wait for the approval of the next EU framework in order to get the necessary structural funds. However, according to newspaper Expresso, the project is facing other threats, such as the opposition of national banks and the lack of formal commitment from the EU.