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Angus's Feed
Jan 23, 2011

Portugal’s Cavaco Silva a steady hand in storm

LISBON (Reuters) – A distinguished academic as well as a veteran politician, Portuguese President Anibal Cavaco Silva casts himself as a calm, steady and wise captain as his country weathers an economic storm.

Elected for a second five-year term on Sunday, his skills will swiftly be put the test even though his position is largely ceremonial.

Jan 23, 2011

President of crisis-hit Portugal re-elected

LISBON (Reuters) – Portuguese President Anibal Cavaco Silva won a second term in an election on Sunday, television exit polls showed, a result that should ensure short-term political stability as the government fights to avoid an international financial bailout.

The country’s leading television stations — SIC, RTP and TVI — put Cavaco Silva’s share of the vote at around 55 percent compared with about 19 percent for Manuel Alegre of the ruling Socialists, his closest competitor in a field of six.

Jan 19, 2011

bill auction comforts debt-laden Portugal, for now

LISBON, Jan 19 (Reuters) – Prime Minister Jose Socrates’ won
breathing space in his fight to avoid a bailout for debt-laden
Portugal on Wednesday with a successful treasury bill auction in
which the country’s borrowing costs fell.

Demand was strong for the 750 million euros of T-bills and
the 12-month yield, the rate which the borrower pays, fell to
4.029, down from 5.281 percent in a similar auction last month.

Dec 3, 2010

In troubled times, everybody needs good neighbors

LISBON (Reuters) – Portugal has often been overshadowed by its bigger, brasher neighbor Spain on the Iberian peninsula.

The two countries’ history and culture are entwined as well as their commercial interests.

Dec 1, 2010

Portugal under the gun as borrowing costs rise

LISBON (Reuters) – Debt-ridden Portugal suffered another blow on Wednesday in its fight to avoid an international bailout when borrowing costs rose sharply in a government Treasury bill auction.

All the 500 million euros in 12-month T-bills on offer in the auction were sold. But yields rose to a euro lifetime record of 5.281 percent up from 4.813 percent two weeks ago, demonstrating sagging investor confidence in the Iberian nation now in the frontline of the euro zone debt crisis.

Nov 30, 2010

Portugal banks at risk unless public spending cut

LISBON, Nov 30 (Reuters) – Portugal’s central bank said on
Tuesday the country’s banks faced an “intolerable risk” unless
the government manages to bring its public spending under
control as it struggles to combat a debt crisis.

The Bank of Portugal report spelled out a tricky scenario
for the banks as concerns grew in markets over the nation’s
prospects of avoiding a bailout and thus becoming the next
domino to fall in the euro zone.

Nov 29, 2010

Economic crisis feeds Portuguese “saudade”

LISBON (Reuters) – As Portugal struggles through an economic crisis, a mood of “saudade” is gripping many of its people.

The sentiment is a national characteristic — a feeling of melancholy and resignation and a nostalgia for a past that always seems better than the present. “Saudade” is an essential element of fado, the mournful songs played in the bars of Lisbon’s Bairro Alto at night.

Sep 15, 2010

Malian, Cuban musicians take Buena Vista back to roots

By Angus MacSwan

LONDON (Reuters Life!) – Problems with passports scuppered producer Nick Gold’s first attempt to bring together Cuban and Malian musicians to record in Havana 14 years ago.

But the album that did emerge from sessions by the Cubans who had been left bereft became one of the music phenomenons of recent times — the Buena Vista Social Club.

Sep 14, 2010

Ahmadinejad under pressure inside and outside Iran

LONDON (Reuters) – Pressure mounted on Iranian President Mahmoud Ahmadinejad at home and abroad on Tuesday as his government’s disputes with the West deepened.

Veteran politician Akbar Hashemi Rafsanjani criticised Ahmadinejad for failing to counter the impact of economic sanctions, the latest sign of division in Iran’s ruling elite.

Sep 14, 2010

Iranian leader faces criticism from inside and outside

LONDON (Reuters) – Pressure mounted on Iranian President Mahmoud Ahmadinejad at home and abroad on Tuesday as his government’s disputes with the West deepened.

Veteran politician Akbar Hashemi Rafsanjani criticized Ahmadinejad for failing to counter the impact of economic sanctions, the latest sign of division in Iran’s ruling elite.

    • About Angus

      "Angus MacSwan has reported for Reuters for 25 years from Asia, Latin America, the United States, the Middle East, South Africa and the Balkans. He has covered events from the overthrow of President Marcos in the Philippines in 1986 to the U.S. invasion of Iraq in 2003. He stood next to Archbishop Desmond Tutu when he voted in South Africa's first free election and witnessed the arrival of the first prisoners to the U.S. camp in Guantanamo Bay, Cuba."
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