The “Big Five” Canadian banks offer credit cards and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Did you know that there are many other options?
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Portugal PM: Protective line of credit not needed as bailout oversight set to end
– canadianbusiness.com
LISBON, Portugal – Portugal will not seek a protective line of credit after its government fulfils requirements imposed by foreign bailout creditors as part of a 78 billion euro ($107 billion) rescue package, its prime minister said Sunday.
Pedro Passos Coelho’s government is due to regain financial sovereignty over the economy on May 17, after three years of being told what to do by the International Monetary Fund, European Commission and European Central Bank under a financial rescue.
“It is the right choice at the right time,” Passos Coelho said, adding that the Cabinet had taken the decision “after careful consideration and reviewing all the pros and cons.” A protective line of credit would have acted as a safety net for the economy, but would have come with strings attached.
The 2011 rescue prevented national bankruptcy, but Portugal had to accept steep tax increases, an end to long-standing labour entitlements and deep cuts in pay, pensions and welfare rights…
Pedro Passos Coelho’s government is due to regain financial sovereignty over the economy on May 17, after three years of being told what to do by the International Monetary Fund, European Commission and European Central Bank under a financial rescue.
“It is the right choice at the right time,” Passos Coelho said, adding that the Cabinet had taken the decision “after careful consideration and reviewing all the pros and cons.” A protective line of credit would have acted as a safety net for the economy, but would have come with strings attached.
The 2011 rescue prevented national bankruptcy, but Portugal had to accept steep tax increases, an end to long-standing labour entitlements and deep cuts in pay, pensions and welfare rights…
