Article: Portugal has questions to answer

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Portugal has questions to answer

Colin Stevens, 03 June 2021

Such calls have gained fresh momentum in recent months following the recent controversial decision to drop serious criminal charges against Portugal’s former Prime Minister Jose Socrates.

On 25 May 2019, EPP’s candidate for new Commission president , German Manfred Weber wanted to apply sanctions against Portugal. Right-wing Paulo Rangel and Nuno Melo do not miss a chance to point out that it was a socialist government – at the time led by José Sócrates – that had asked for the intervention of the “troika”(European Commission, International Monetary Fund and European Central Bank). Continue reading “Article: Portugal has questions to answer”

Article: Portugal ex-PM to stand trial for money laundering, forgery

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Portugal ex-PM to stand trial for money laundering, forgery

BARRY HATTON, 09 April 2021

A Lisbon judge ruled Friday to put former Portuguese Prime Minister José Sócrates on trial for alleged money-laundering and forgery but said the statute of limitations had expired on more than a dozen corruption allegations.

Judge Ivo Rosa said that 1.7 million euros ($2 million), much of it in cash, given to Sócrates by a childhood friend who was working for a Portuguese construction company amounted to an attempt to gain influence over the prime minister and win contracts. Continue reading “Article: Portugal ex-PM to stand trial for money laundering, forgery”

Article: Fintech startup Feedzai valued at $1 billion in KKR-led funding round

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Fintech startup Feedzai valued at $1 billion in KKR-led funding round

Anna Irrera, 24 March 2021

LONDON (Reuters) – Financial technology group Feedzai said on Wednesday it had raised $200 million in a round led by investment company KKR valuing the startup at more than $1 billion.

Existing investors, including Sapphire Ventures and Citi Ventures, also participated in the round, the San Mateo, California-headquartered company said.

Feedzai develops artificial intelligence and machine learning technology that helps banks and other financial firms to spot and prevent payments fraud, money laundering and other types of illicit activities. Continue reading “Article: Fintech startup Feedzai valued at $1 billion in KKR-led funding round”

Article: ECB’s Draghi brushes off Trump charge of currency manipulation

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ECB’s Draghi brushes off Trump charge of currency manipulation

News Desk, 19 June 2019

June 19: European Central Bank chief Mario Draghi said Tuesday that the institution “doesn’t target the exchange rate”, shrugging off an allegation of currency manipulation from US President Donald Trump.

“We have our remit. We have our mandate. Our mandate is price stability” or inflation just below two percent, Draghi told a central banking conference in Sintra, Portugal.

“We are ready to use all the instruments that are necessary to fulfil this mandate, and we don’t target the exchange rate,” he added.

Draghi’s statement that weak economic growth and sluggish inflation could prompt the ECB to slash further rates already at historic lows had earlier sparked Trump’s ire.

“Mario Draghi just announced more stimulus could come, which immediately dropped the Euro against the Dollar, making it unfairly easier for them to compete against the USA,” Trump said on Twitter.

“They have been getting away with this for years, along with China and others,” he added.

Draghi said in a speech that “further cuts in policy interest rates… remain part of our tools” as the bank looks to juice growth and inflation.

Eurozone policymakers had already discussed potential rate cuts in early June, but Draghi’s latest remarks were the first to catch markets’ full attention.

That was in part because he said the central bank was ready to move “in the absence of improvement” rather than if economic conditions worsen, lowering the threshold for action.

But Trump later in the day continued to imply that the ECB was somehow looking to gain an advantage, rather than responding to economic conditions in the euro area.

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Article: Draghi brushes off Trump accusation of currency manipulation

Article - Media, Publications

Draghi brushes off Trump accusation of currency manipulation

EURACTIV, 19 June 2019

European Central Bank chief Mario Draghi said Tuesday (18 June) that the institution “doesn’t target the exchange rate”, shrugging off an allegation of currency manipulation from US President Donald Trump.

“We have our remit. We have our mandate. Our mandate is price stability” or inflation just below two percent, Draghi told a central banking conference in Sintra, Portugal.

“We are ready to use all the instruments that are necessary to fulfil this mandate, and we don’t target the exchange rate,” he added.

Draghi’s statement that weak economic growth and sluggish inflation could prompt the ECB to slash further rates already at historic lows had earlier sparked Trump’s ire.

“Mario Draghi just announced more stimulus could come, which immediately dropped the Euro against the Dollar, making it unfairly easier for them to compete against the USA,” Trump said on Twitter.

“They have been getting away with this for years, along with China and others,” he added.
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