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The Portugal Brief
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The Portugal Brief

The Portugal Brief

Euribor

Euribor 3-Month Climbs to 2.252% on Wednesday 13 May — Highest Print Since April 2025 as the Six-Month Settles at 2.485% and the Twelve-Month Reaches 2.798%, Putting Mild Pressure on Portuguese Variable-Rate Mortgages

The 3-month Euribor fixed at 2.252% on Wednesday 13 May, its highest level since April 2025. The 6-month settled at 2.485% and the 12-month at 2.798%. The drift up the curve reverses the spring 2025 ECB-cut narrative and tilts Portuguese variable-mortgage resets modestly higher.

Justice

Polícia Judiciária Walks Three Suspects Into the Tribunal de Instrução Criminal do Porto on 13 May — Operação 'Saco Roto' Detects Over €1.8 Million of EU Funds Diverted Through 30 Co-Financed Operations Across Seven Districts, €100,000 Cash Seized

Polícia Judiciária's Guarda DIC arrested three suspects on Wednesday 13 May in Operação 'Saco Roto', detecting more than €1.8 million of EU co-financing diverted across 30 operations. About €100,000 cash seized. Detainees presented to Tribunal de Instrução Criminal do Porto.

Business

Altice International Converts €2.5 Billion of Intragroup Debt Into Meo Portugal Capital on 8 May — Operator's Share Capital Lifts From €17 Million to €2.535 Billion as Drahi's November 2025 Unrestricted-Subsidiary Defence Hardens Into a Liquidity Wall

Altice International executed a €2.5 billion capital increase in kind at Meo Portugal S.A. on 8 May 2026, converting intragroup debt into share capital and lifting the operator's registered share capital from roughly €17 million to €2.535 billion in...

Açores

Bolieiro Walks the Açores Into the First Conferência de Regiões in Ponta Delgada on 12 May Asking for More US and NATO Troops at Lajes — Regional President Pitches the Atlantic Archipelago as a Submarine-Cable and Data-Centre Hub for the Alliance

The president of the Açores regional government, José Manuel Bolieiro, walked into the first Conferência de Regiões in Ponta Delgada on Monday 12 May 2026 and answered the obvious question that has hung over the Lajes file since the United States...