Portugus GDP depends on tourism. Spain is the first source market for number of tourists to Portugal and the third by revenue.
Strictures that Portugal will assume the application of a new and stringent structural adjustment program repercutirn in Spain, which has in the neighboring country's fourth export destination. Also be resentirn the 1,500 Spanish companies with investments stable across the border, due to lower consumption and paralizacin, darkfall online gold, of the few investments that were included in the budget an audience. The AVE to Madrid is among the postponements. The damage to banks all settled, Santander, BBVA, Popular, La Caixa, Sabadell, will come not so much on the side that holds lusa debt in their portfolios as rising delinquencies in the credits granted to businesses and families will see their income diminished,, Rift Power leveling, and ultimately, by the contraction of business.
In contrast, Spaniards companies and banks may find opportunities in privatizations llevarna out to meet the requirements of the deficit-cutting. Brussels has imposed this requirement. Most of the transfers under the Stability and Growth Programme 2010-2013 have not been produced and will be reactivated, along with concessions such as water distribution.
In that plan provided the desinversin of shares in, cheap wow powerleveling, state Aeroportos de Portugal, the airline TAP, the oil company Galp (8%), the electric EDP (25%) and the network operator REN; in three companies in the nucleus of the area of aadnse Technological Advice, in the insurance business of Caixa Geral de deposit, in the shipyards of Viana do Castelo, in the CTT (e) and in the trash Inapa. Also included the bank reprivatizacin LBW. Cover their losses has caused, along with other deviations of expenditure, the deficit increased to a figure that surpasses the commitment.
The exposure of banks to Portugal espaola amounts, according to official figures, to 79,000 million euros. Of this amount, 63,500 million were financial assets (debt and investment credit), which represent only 1.7% of the total assets of Spanish credit system. Portuguese subsidiaries of Santander, BBVA People engaged in commercial banking, granted to companies and households prstamos lusas and its first sources of finance are the deposits of customers captured in the own country.
Risk of default
The main risk now facing rising defaults and each turnover. Sovereign debt portfolio Lusa, representing 5% of its assets is less compromised by the application of the rescue plan. If you aaden the titles of public undertakings and other administrations, the figure rises to 7.5% of assets.
The depression of the adjustment economay bajarn revenue from companies such as El Corte Ingls, which has shifted its international strategy in Portugal, and Zara, as well as the invoicing of other goods sector consumption.
It resentirn trade besides Spanish-Lusitanian. Spaniards exports were valued at 16.577 million last year, and move in similar numbers during the last five years. Spain Portugal sells automobiles, equipment mechanics and electrical, plastics, paper, clothing, fuel and food. Most of these goods are very sensitive to each of the inversinya the loss of purchasing power.
The continuity of the major projects in the neighboring country Spaniards depend on the maintenance budget and, finally, the expectations of business. There are examples of all kinds. Iberdrola feeds projects like the construction of a hydroelectric complex with an investment of 1,700 million. Ech Repsol ATRs in the enlargement of the facilities in Sines, in the readjustment of its overall investment plan.
Portugal is open to large size projects. Pescanova inaugurated in June 2009 See the biggest plant in the world of aquaculture for the production of turbot. Sold in Portugal, but especially in Spain and elsewhere in Europe.
In contrast, Spaniards companies and banks may find opportunities in privatizations llevarna out to meet the requirements of the deficit-cutting. Brussels has imposed this requirement. Most of the transfers under the Stability and Growth Programme 2010-2013 have not been produced and will be reactivated, along with concessions such as water distribution.
In that plan provided the desinversin of shares in, cheap wow powerleveling, state Aeroportos de Portugal, the airline TAP, the oil company Galp (8%), the electric EDP (25%) and the network operator REN; in three companies in the nucleus of the area of aadnse Technological Advice, in the insurance business of Caixa Geral de deposit, in the shipyards of Viana do Castelo, in the CTT (e) and in the trash Inapa. Also included the bank reprivatizacin LBW. Cover their losses has caused, along with other deviations of expenditure, the deficit increased to a figure that surpasses the commitment.
The exposure of banks to Portugal espaola amounts, according to official figures, to 79,000 million euros. Of this amount, 63,500 million were financial assets (debt and investment credit), which represent only 1.7% of the total assets of Spanish credit system. Portuguese subsidiaries of Santander, BBVA People engaged in commercial banking, granted to companies and households prstamos lusas and its first sources of finance are the deposits of customers captured in the own country.
Risk of default
The main risk now facing rising defaults and each turnover. Sovereign debt portfolio Lusa, representing 5% of its assets is less compromised by the application of the rescue plan. If you aaden the titles of public undertakings and other administrations, the figure rises to 7.5% of assets.
The depression of the adjustment economay bajarn revenue from companies such as El Corte Ingls, which has shifted its international strategy in Portugal, and Zara, as well as the invoicing of other goods sector consumption.
It resentirn trade besides Spanish-Lusitanian. Spaniards exports were valued at 16.577 million last year, and move in similar numbers during the last five years. Spain Portugal sells automobiles, equipment mechanics and electrical, plastics, paper, clothing, fuel and food. Most of these goods are very sensitive to each of the inversinya the loss of purchasing power.
The continuity of the major projects in the neighboring country Spaniards depend on the maintenance budget and, finally, the expectations of business. There are examples of all kinds. Iberdrola feeds projects like the construction of a hydroelectric complex with an investment of 1,700 million. Ech Repsol ATRs in the enlargement of the facilities in Sines, in the readjustment of its overall investment plan.
Portugal is open to large size projects. Pescanova inaugurated in June 2009 See the biggest plant in the world of aquaculture for the production of turbot. Sold in Portugal, but especially in Spain and elsewhere in Europe.
