Ferry latest. EU bank rescue. New blog.

Ferry latest

Ferry in Funchal horbourThe latest proposal from the regional government, reported in the press this week, is to “go it alone” in inviting tenders for a ferry service to connect the island to the mainland. This could simply be an attempt to save face, having made firm promises regarding the return of the ferry during the last regional elections. Perhaps politicians minds are turning to the next elections? Either way it is not likely to lead anywhere now that central government seem to have ruled out any subsidy.
A new online petition has started on http://peticaopublica.com Interestingly this petition is not calling for any subsidy other than exemption from port fees from the Port of Funchal for the first four years of operation.
Meanwhile the regional government is progressing with plans for the extension of the existing Molhe da Pontinha (the outer wharf) and controversial new “Pier 8” which is not always usable in heavy seas.

EU bank rescue plans tested

One Euro coinInteresting times for the EU, as their new bank rescue plans are tested for the first time. Yesterday in Spain Banco Santander, which rescued Banif here a couple of years ago, has agreed to buy domestic rival Banco Popular for the nominal price of €1 after EU authorities declared the Madrid-based lender “failing or likely to fail”.
The deal marks the first test case of the Eurozone’s post-crisis bank bailout regime. It means Popular’s shareholders and junior bondholders will be wiped out, though senior debt holders are protected. The FT points out that at the height of the financial crisis, the haphazard rescues of several mid-sized Eurozone banks helped spark a run of national bailouts that nearly broke apart the EU’s common currency. This included BES, now Novo Banco, in Portugal. Novo Banco itself is still not out of the mire, with fresh rumours and allegations appearing in the press regularly.
Under the new regime, the European Central Bank’s recently created bank oversight authority, the Single Supervisory Mechanism, stepped in on Tuesday evening to declare that Popular was “failing or likely to fail”. Interestingly Santander Totta, the Portuguese subsidiary of Santander, is expected to benefit from the take-over, as Popular had significant activity in mainland Portugal which will be merged into their operation.

thegirlinthegreencoat.com

Screen snap of Madeira blog

Came across a  very positive blog recounting a visitor’s first trip to the island; “I absolutely loved Madeira and would go back in a heartbeat”. Written by a self-proclaimed “British chick in my thirties” it takes an slightly different slant on the island.

Finally………a zero-star hotel

Nothing to do with Madeira, which has some of the best five-star hotels in Europe, but he BBC are carrying a story on a zero star hotel in Switzerland, where you can book a room without walls….

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14 Responses to Ferry latest. EU bank rescue. New blog.

  1. Mike Walsh Thursday, June 8, 2017 at 11:24 #

    I wonder about your comment of “a slightly different slant” on the island.(About me – visit to Madeira / under menu line “About” btw). It seemed a very standard report to me.

    As for Santander and Banco Popular, the share price in Madrid of Santander went down the following day on a day when for instance Caixa Bank went up a fair bit. So the deal – even for a Euro – isn’t regarded as positive in the short term by the markets. Will be interesting to see how long it takes for benefits for Santander Totta (Portugal) to come through.

  2. Alex Friday, June 9, 2017 at 07:32 #

    The mythical “Ferry”raises its head once again, it’s the tiny piece of the carrot left on the donkeys stick.
    Can the good people of Madeira continue to be fooled by a select few?
    Madeira has so much to offer many visiting holiday makers, and new residents
    alike. A ferry would offer a new avenue to gain more visitors, some who don’t
    like to fly, and also for residents to visit the mainland and the Canaries as a mini
    cruise. staying isolated is losing a good deal of revenue for the island.
    not to mention the much needed extra jobs.

  3. Dave Friday, June 9, 2017 at 15:23 #

    Rubbish removal. Hi, I am looking for a man and wagon to remove garden waist and house rubbish. Does anyone know of a person who can do this who is reliable and honest. I am in Funchal Centro.
    Waiting for a reply on this from admin. Thanks

  4. Carlos Friday, June 9, 2017 at 15:27 #

    There is a good side to not having a ferry – security stays super high through airline-only access to the island – and the possibility of an act of terrorism remains very low . Lots of downsides though.

  5. philD Friday, June 9, 2017 at 16:16 #

    There is plenty of cargo arrives on the island by sea, so in theory it would be possible to smuggle items onto the island. Also I would guess there are plenty of firearms and explosives that are already here that will not be stored that securely. Some of the gardening equipment on general sale looks pretty frightening to me.

  6. Admin Friday, June 9, 2017 at 19:00 #

    Update on the Golden Gate story featured in recent posts: the Diario today reports that the cafe is to open before the end of June, but it seems there are still some issues to resolve. The new owner has been told not to use the name”Golden Gate” as the granddaughter of the former owner has registered the brand and intends to use it elsewhere.
    Didn’t the establishment have “Grand Cafe” in it’s title at some point previously?

  7. Andrew Sunday, June 11, 2017 at 15:41 #

    Very good weather for June so far – pleased we opted for a longer stay this year.

  8. Mike Walsh Monday, June 12, 2017 at 07:08 #

    Off-Topic:

    Does anyone have any advice for getting a taxi at the airport (1. to Lido area 2. to hotel in the hills above the airport)? Is it enough to get in the taxi and give the destination or should a price be negotiated? (I speak enough Portuguese to do the latter in Portuguese if necessary)

  9. Joanne Monday, June 12, 2017 at 07:31 #

    Re Taxi at airport, if you pre book a taxi you can get discount, Try Daniels Taxis or Madeira Airport Transfers. If you book by the websites you get a price so you know what to pay. Taking a taxi from the airport will be more expensive and I would definitely agree a price first.

  10. Mike Walsh Monday, June 12, 2017 at 09:07 #

    Thanks a lot for taking the time to give me both these suggestions. I’m now covered for my single journey up to Santo da Serra. (Shuttle … 7/8) but wondering what would be an expected normal price (2 people) for a normal taxi journey to a hotel in the Lido area. [So I can work out the extra for not needing to find a particular driver!!]

  11. mauricereed Monday, June 12, 2017 at 18:21 #

    Mike, we usually jump a cab on the rank at the airport to central Funchal for around €30 or so. A pre-booked cab should be around €25 I reckon.

  12. Mike Walsh Monday, June 12, 2017 at 18:28 #

    Thanks, Maurice. Good info. (Pre-booked is 23 (one of them is 22,50)). Jumping into a cab seems simpler than needing to find the right driver.

  13. Joanne Monday, June 12, 2017 at 20:23 #

    You don’t have any problem finding the right driver at the airport, they will be waiting in arrivals with you name in huge letters, held high so you can see them. Cabs outside can and often do charge what they think they can get….. At least 30 euros into Lido area. Some use meters but not all, still a few rogues around.

  14. Mike Walsh Monday, June 12, 2017 at 20:29 #

    Thank you, Joanne, that nicely completes this off-topic addition to “something completely different”. I’m grateful to both of you for taking the time to pass on your expertise !

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