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The Portugal Brief

The Portugal Brief

UGT Bank Unions Mais, SBN and SBC Rebuff the Sector's 2% 2026 Wage Offer as 'Insensibilidade e Ganância' Against a Big-Five €1.279 Billion Q1 Profit Tape — Twenty Signatories Sit at the Negotiating Table, CGD and BCP Outside

UGT Bank Unions Mais, SBN and SBC Rebuff the Sector's 2% 2026 Wage Offer as 'Insensibilidade e Ganância' Against a Big-Five €1.279 Billion Q1 Profit Tape — Twenty Signatories Sit at the Negotiating Table, CGD and BCP Outside

UGT bank unions Mais, SBN and SBC rejected the sector's 2% 2026 wage offer on 23 May as 'insensibilidade e ganância' set against the big-five banks' €1.279 billion Q1 profit tape and 3.3% April inflation — leaving the ~20 ACT signatories without a deal and CGD and BCP outside the agreement.
The Portugal Brief
Nuno Melo Stakes the €5.8 Billion SAFE Defence Envelope on a Mission Task Force, Court of Auditors Loop and Independent Commission From the Setúbal Navy Day Podium — Twelve New Frigates by 2030 Define the Atlantic Pivot

Nuno Melo Stakes the €5.8 Billion SAFE Defence Envelope on a Mission Task Force, Court of Auditors Loop and Independent Commission From the Setúbal Navy Day Podium — Twelve New Frigates by 2030 Define the Atlantic Pivot

Defence Minister Nuno Melo used Navy Day in Setúbal on 23 May to layer a task force, independent commission, Tribunal de Contas loop and parliamentary scrutiny over the €5.8 billion SAFE envelope — with twelve Marinha frigates by 2030 and a €50M-plus Arsenal do Alfeite envelope anchoring the pivot.
The Portugal Brief
The Lisboa Brief — Week of 23 May 2026: Festas de Lisboa Curtain Up, Moedas Calls EES 'Caos' at Humberto Delgado, Flixbus and Rede Expressos Trade Letters Over Sete Rios, and Praça Eduardo Mondlane Wins an Emergency Rehab

The Lisboa Brief — Week of 23 May 2026: Festas de Lisboa Curtain Up, Moedas Calls EES 'Caos' at Humberto Delgado, Flixbus and Rede Expressos Trade Letters Over Sete Rios, and Praça Eduardo Mondlane Wins an Emergency Rehab

Festas de Lisboa 2026 curtain up at Praça do Município under 'Somos Lisboa, Somos Europa'. Moedas warns of EES 'caos' at Humberto Delgado. Flixbus gets 48 of 96 Sete Rios slots and cries bad faith. Praça Eduardo Mondlane wins a 29-flat rehab and the 38th renda acessível opens.
The Portugal Brief