A LITTLE HISTORY OF PORTUGAL - for people that don't know

An independent kingdom since 1143, Portugal established its continental frontiers in 1297 and is one of the oldest nations in Europe.
The former world power during the 15th and 16th centuries, lost much of its wealth and status with the destruction of Lisbon in a 1755 earthquake, the occupation during the Napoleonic Wars, and the independence in 1822 of Brazil as a colony.
A 1910 revolution deposed the monarchy; for most of the next six decades repressive governments ran the country.
In 1974, a left-wing military coup installed broad democratic reforms.
The following year Portugal granted independence to all of its African colonies.
Portugal is member-country of the European Union since 1986.
Today the country enjoys a steady economic growth.

CONSELHO CONSULTIVO - 25.JUL                          
       ETV - Diário Económico
           (Author Participation)

http://videos.sapo.pt/m0QDtE6OtpAFYbADVGL0

Minha participação no Seminário promovido pela Delegação da Comissão Europeia, em Lisboa, no passado dia 9 de Julho – mesa-redonda sobre a Directiva no Atraso de Pagamento nas Transacções Comerciais na União Europeia.

My participation at a Seminar performed by Portuguese Delegation of European Commission, last July, 9 – table-round about the European Directive of Late Payments in EU.

My PROFILE at LINKEDIN
O meu Perfil no LINKEDIN

https://www.linkedin.com/pub/ant%C3%B3nio-gaspar/0/3aa/158

	VARIAÇÕES HOMÓLOGAS
	HOMOLOGOUS CHANGE
Empréstimos de Outras Instituições Financeiras Monetárias a Empresas Não Financeiras
Loans of Other Monetary Financial Institutions to Non-Financial Corporations
					Milhões de Euros
					Millions of Euros
	Crédito Concedido				Cobrança Duvidosa
Installment Credit				Uncertain Collection
	MAI.13	104.506			11.825
	MAI.14	95.698	-8,43%		12.611	6,65%
Fonte: Boletim Estatístico do Banco de Portugal
Source: Portugal Central Bank

	VARIAÇÕES HOMÓLOGAS
	HOMOLOGOUS CHANGE
Empréstimos de Outras Instituições Financeiras Monetárias a Particulares
Loans of Other Monetary Financial Institutions to Private Individuals
					Milhões de Euros
					Millions of Euros
Crédito		Concedido		Cobrança Duvidosa
Banking Credit	Installment Credit			Uncertain Collection
Habitação	MAI.13	108.040			2.322
Mortgage	MAI.14	104.118	-3,63%		2.455	5,73%
Consumo	MAI.13	12.630			1.520
Consumption	MAI.14	11.782	-6,71%		1.414	-6,97%
Outros Fins	MAI.13	10.647			1.336
Another Finality	MAI.14	10.157	-4,60%		1.393	4,27%
Total	MAI.13	131.317			5.179
Total	MAI.14	126.036	-4,02%		5.262	1,60%
Fonte: Boletim Estatístico do Banco de Portugal
Source: Portugal Central Bank

EUROPEAN BANKING SUPERVISION

A report published by the European Court of Auditors, reveals that the Commission’s reform of banking sector legislation and the creation of the European Banking Authority were importantfirst steps in response to the financial crisis. The European Banking Authority has provided the elements of a new regulatory and supervisory system for the banking sector, taking into account its resources and limited legal powers. However, shortcomings were identified in cross-border banking supervision, the assessment of the resilience of EU banks, and the promotion of consumer protection.
"The financial crisis sent shockwaves throughout the EU’s banking sector, resulting in the economic and sovereign debt crisis, and the EU acted to stabilise it", stated Mr Milan Martin Cvikl, the ECA Member responsible for the report, However, the European Banking Authority lacks the authority to make or enforce decisions on supervisory convergence and had a limited legal mandate and staff to conduct the 2011 stress tests. Now, with the agreement on the single supervisory mechanism and other elements of the banking union further important activities are underway.”
In response to the financial and economic crisis, emergency action was taken in a bid to restore confidence in financial institutions, followed later by regulatory and supervisory reforms. The Court reviewed this focussing on the period 2011 to early 2013. It found that the Commission and the European Banking Authority reacted to the financial crisis with a broad regulatory agenda. However there was limited time for stakeholder consultation and there was no cross-sectoral impact assessment.
The European Banking Authority contributed to improving the cross-border supervision of banks as a facilitator and coordinator of the work of national supervisory authorities. However the day-to-day supervision of banks was carried out by national supervisory authorities, and the European Banking Authority did not have direct access to financial institutions. Supervisory convergence through the colleges of supervisors was limited, and colleges spent too much time discussing procedures rather than focusing on risks. The European Banking Authority lacks the authority to make or enforce decisions on supervisory convergence and to resolve disputes between NSAs.
The European Banking Authority had a limited legal mandate and staff to conduct the 2011 stress tests which were conducted without financial ‘back stop’ measures at EU level. Although stress tests were helpful in initiating the recapitalisation of a large number of banks, they revealed the limitations of such exercises when not combined with an assessment of the quality of the asset portfolio.
The EU auditors put forward a set of recommendations aimed to increase the effectiveness of the colleges of supervisors, reliability of bank stress tests and to ensure a successful banking union and effective banking supervision.

 
The Commission is currently preparing its review of the European System of Financial Supervision and will adopt reports on the European Supervisory Authorities and the European Systemic Risk Board before the summer break.
The European Banking Authority's role in the overall supervisory architecture is crucial. While the establishment of the Banking Union, and notably its key components of the Single Supervisory Mechanism and the Single Resolution Mechanism, will affect the functioning of the EBA, it does not call into question its existence. On the contrary, the EBA will continue to be responsible for the establishment of common regulatory and supervisory standards and practices and the consistent application of EU measures across the EU Single Market. The Commission believes that, overall, EBA has discharged its responsibilities very effectively and thoroughly, given the powers and resources at its disposal."

CONSELHO CONSULTIVO - 18.JUL                          
       ETV - Diário Económico
           (Author Participation)

http://videos.sapo.pt/NU0fcm2UsbYuga8Q8s3o

CONSELHO CONSULTIVO - 11.JUL                          
       ETV - Diário Económico
           (Author Participation)

http://videos.sapo.pt/22uQAJD7aw6H93uK4Tz4

CONSELHO CONSULTIVO - 4.JUL                          
       ETV - Diário Económico
           (Author Participation)

http://videos.sapo.pt/2yUmQhS1n885SZgfR10B