BUSINESS
February 15, 2012 | By Landon Thomas Jr.
LISBON - As debt-plagued Greece struggles to meet Europe's strict terms for receiving its next round of bailout money, the lesson of Portugal might bear watching. Unlike Greece, Portugal is a debtor nation that has done everything that the European Union and the International Monetary Fund have asked it to, in exchange for the $103 billion bailout Lisbon received in May. And yet, by the broadest measure of a country's ability to repay its debts, Portugal is going deeper into the hole.
NEWS
November 25, 2011 | By Barry Hatton, Associated Press
LISBON - Portugal's efforts to climb out of its economic crisis suffered a double setback yesterday as its credit rating was downgraded to junk status and a major strike gave voice to broad public outrage over austerity measures that have squeezed living standards. Portugal's deepening plight underlined Europe's difficulties in finding a way out of the continent's government debt crisis that has recently shown alarming signs of spreading to bigger nations, most notably Italy. Like others in the 17-country eurozone, Portugal embarked on an austerity program to make its...
SPORTS
June 21, 2004 | Euro 2004 roundup, Associated Press
Portugal reached the quarterfinals of the European Championships, ousting neighboring Spain with a 1-0 victory yesterday in Lisbon. Substitute Nuno Gomes scored in the 57th minute, with a low 18-yard shot past Iker Casillas, sparking jubilant celebrations at Jose Alvalade Stadium. "We have given Portugal a day of joy," said Portugal's Brazilian coach Luiz Felipe Scolari. "We gave everything we had to give. " Portugal managed to survive a stunning opening game loss to Greece and finished first in its group with six points.
SPORTS
August 13, 2004 | Associated Press
PATRAS, Greece -- In its first Olympic competition since its country was shattered by war, Iraq upset star-studded Portugal, 4-2, yesterday in a gritty, come-from-behind victory as about 200 chanting fans cheered and jumped wildly. "This victory will be received with happiness by my people, who have suffered through much," said Iraqi coach Adnan Hamad, whose countrymen were already taking to the streets back in Baghdad, lighting up the night sky with streaks of celebratory gunfire.
SPORTS
July 1, 2004 | Associated Press
LISBON -- Portugal advanced to the final of a major soccer tournament for the first time, beating the Netherlands, 2-1, last night in the semifinals of the European Championship. Portugal, the host nation, will play Sunday against the winner of today's semifinal between Greece and the Czech Republic. Before 46,679 fans at Jose Alvalade Stadium, Cristiano Ronaldo headed in Deco's corner kick in the 26th minute and was given a yellow card by Swedish referee Anders Frisk for pulling off his shirt in the celebration.
BUSINESS
July 6, 2011
The first week of July got off to a slower start than the last week of June, when stocks had their biggest gains in two years. Major indexes were mixed for much of yesterday, but fell after Moody’s downgraded Portugal’s debt to “junk,’’ citing concerns that Portugal will not be able to meet targets to reduce its deficit due to the challenge it faces in cutting spending.