Portugal could face euro exit, minister warns

Tue, 16 Nov 2010 00:00:00 GMT

Individuals interested in looking for property in Portugal may be interested in the latest comments from one government minister from the country.

Speaking in an interview with the Portuguese weekly Expresso, foreign affairs minister Luis Amado said Portugal faces "a scenario of exit from the euro zone" if it fails to tackle its economic challenges.

He explained that there needs to be a political-wide coalition to confront the economic challenges and win the support of the market.

"There has to be an effort by all political groups, by the institutions, to understand the gravity of the situation we're facing," Mr Amado said.

The country has seen a sharp fall in investor confidence over the past few weeks as concerns over fellow eurozone struggler Ireland intensified - pushing Portugal's risk premiums to their highest levels since it adopted the euro.

Mr Amado added: "The country needs a grand coalition that allows it to get through the situation. I believe the (political) parties understand that the alternative to the situation we confront is eventually leaving the euro."

Lifestyle buyers opt for Portugal

Wed, 7 May 2008 00:00:00 GMT

Portugal is proving to be a popular choice for second home buyers from the UK, according to experts.

Currency specialist FC Exchange said top-end buyers in particular are showing lots of interest in the European country.

This has been attributed to a number of factors, including Portugal's relatively low living costs and property values.

The firm said that since the euro is currently much stronger than the pound, these financial benefits have proved to be decisive factors for overseas property buyers.

Nick Fullerton, managing director of FC Exchange, commented: "People are increasingly looking to get more for their money."

This, he said, has led to Portugal attracting people who might previously have considered places such as the south of France.

Portugal's popularity with second home buyers was recently highlighted by the Irish Independent, which said its lack of "unsightly overdevelopment" makes it preferable to many other established markets.

Real Estate & Currency Exchange News in Portugal from Propertyshowrooms.com

Portugal could face euro exit, minister warns

Lifestyle buyers opt for Portugal