Madeira’s Financial Adjustment Programme: Press Conference; Events this weekend Madeira; Churches of Madeira: Igreja de São Pedro, Funchal;
International, Portugal & Madeira News from Paul Abbiati:
Again, thankyou for the contributions from Peter and other blog readers in the comments section on the termination of the Madeira-Portimão Sea Transport
Events this weekend some with free admission in Madeira include:
Saturday
-The GCEA dance group Kaleidoscope will present a show at 20h30, in The Centro Cultural John dos Passos at Ponta do Sol
-The Ensemble XXI of The Orquestra Clássica da Madeira present a concert at 9pm in The Salão Nobre da autarquia do Funchal

-Art exhibition at The Centro Cívico da Ponta do Pargo in Calheta region titled ‘Art West 3 -Islands and Men’ paintings by Ruben Freitas (Madeira) e Carlos Mota (Açores)
-The Madeira Mandolin Orchestra presents at 9 p.m. in the English Church, Funchal “Light Classics” by Vivaldi – Ketélbey – V Monti – Waldteufel and Franz Liszt.
Sunday
-Boot Sale in Funchal?
Madeira’s Financial Adjustment Programme
From Bloomberg BusinessWeek:
At a Press Conference broadcast by SIC Noticias TV station from Madeira on Friday evening Portugal Madeira’s Leader Alberto Joao Jardim said that the Portuguese Government will grant about 1.5 billion euros ($2 billion) in emergency aid to Madeira to help the semi-autonomous island region repay debt, Madeira
Jardim said “The sustainability of the region’s debt is guaranteed” and that the region will pay the same interest rate Portugal is paying for its international aid plan.

Under the so-called adjustment program, Jardim said that Madeira’s government will:
-increase VAT,
-cut public workers’ summer and Christmas salary payments,
-reduce the public workforce and
-sell state-owned companies to raise money, Jardim said.
Those steps mirror actions the national government is taking to meet the terms of its 78 billion-euro bailout from the European Union and International Monetary Fund.
http://www.businessweek.com/news/2012-01-27/madeira-to-receive-1-5-billion-euros-in-aid-from-portugal.html
From CNN:
“The archipelago will have 15 years to pay off the loan starting in 2016, Jardim said Friday.”
“The local government hopes to collect about $140 million in extra revenue this year, which means the bulk of the effort to pay back the aid will come from taxpayers…”
“The Lisbon-based government will transfer the 1.5 billion euros to Madeira until 2031..”
link: http://edition.cnn.com/2012/01/28/world/europe/portugal-madeira-funds/index.html
Churches of Madeira: Igreja de São Pedro, Saint Peter’s Church Funchal 1590-

“The construction of the Church began in 1590 and it was completed in 1743. The interior of the church is decorated with seventeenth century tiles which cover all nave walls, the main chapel and the sacristy. The other notable main decoration of this church are the paintings, gold and silver works and furniture from the seventeenth, eighteenth, nineteenth and twentieth centuries.”


images from the official Facebook pages of Madeira Tourism
All images from Diario Newspaper unless otherwise stated






