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PS Hiding In Porto Moniz ; Colombo Resort – Why Pay €5m? ; Portugal Economy Improved

August 13, 2009 By: admin Category: Economy & Financial News, Politics & Political News

(13th August). ‘PS Porto Moniz Hides Supporters – Beside not having rallies during the campaign, the socialists don’t divulge supporters in order to avoid possible pressures’. Nuno Jardim Fernandes is the top of the list in the local elections for the socialist party, and is keeping quiet as best he can about the people and support behind his bid for power. This is the strategy of the PS for the local elections of 11 October, and is based on the pressure and fears that the people in Porto Moniz are suffering. The strategy is to go door to door in the campaign, with only the PS knowing who is with them, there being no need to make supporters feel uneasy. "It is known that it is difficult to have to pick up (show) the flag of the PS", says a spokesman. Weird I know, but of course people have the right to privacy on their voting preferences. It brings to mind a conversation I had a few years ago with an ex-party campaigner for the PSD-M social democrats, who was told to tell pensioners that if they didn’t vote for the PSD their pensions would be taken away. She refused to do it, and promptly resigned her position in the party.

The final front page headline today : ‘On Porto Santo, Renata Sousa Reacts To Roberto’. The PS candidate for Porto Santo wants to know what the people of the island have to gain with the €5 million that the council there is planning to sink into the Colombo Resort project, in the attempt to restart the project that ran-aground with financial difficulties. The €5 million is a third of the Câmara’s annual budget, and although not yet absolutely committed, is promised on a ‘memorandum of understanding’ signed by various potential investors. A "megalomaniac project",that on sight "pleases no one", and showed a "number of irregularities" when it was approved by the local council. "Roberto Silva (câmara president) has to come to speak publicly about it" she said. Fair point I think, no customers, no point in spending €5 million yet, but who wants a part built eyesore left cluttering up an already cluttered shoreline.

The PS-M is due to submit it’s candidate list for Porto Santo tomorrow, whilst the PSD-M did so yesterday. President Jardim says he expects a "crushing" victory.

Portugal has registered 52 new Gripe A cases in the last 24 hours, and a creche was closed due to infection. The total now has risen to 735 cases, with 12 people actually in hospital, but all in stable condition. Most of the new cases in Portugal now are through transmission rather than imported.

In the economy :

‘More than 70% of those signed on in the employment centres receive benefits – The self employed and young people with little time in work make up the other 30%’. The number of those not entitled to the benefit is growing faster proportionally than the unemployed numbers generally.

‘Growth (PID / GDP) In The Portuguese Economy Likely To Have Reduced By 0.6% In The 2nd Quarter – Analysts point to some recovery in private consumption and in exports’. The reduction in growth is compared to the first quarter of 2009, and has yet to be confirmed, but if true it will be the 4th consecutive quarter of GDP shrinkage (-0.1%,-2%,-1.5%,-0.6%?). Estimates from two private  banks are for GDP to have shrunk by 4.2% / 3.6% over the full year of 2009, whilst the Bank of Portugal believes -3.5% is more accurate. The Organization for Economic Cooperation and Development -4.5% is more likely.

’9.3% more buildings constructed between 2001 and 2008 – Madeira is the second region of Portugal for higher growth’. Madeira is the second region of the country in terms of higher growth in the total number of buildings, according to the National Statistics Institute, who published a study ‘Construction and Housing’. During the period stated, the number of buildings increased here during the period by 9.3%, only exceeded by the Algarve at 10.6%. The national average was 7.6%. However the constructions have now dropped dramatically on Madeira, and 19.5% less buildings were licensed in 2008 than 2007. On the other hand, Madeira has the largest decrease in the average number of inhabitants per home. Between 2001 and 2008, the number declined from 2.46 to 2.06 per dwelling, a decrease of 16.3%. Nationally the average is 1.86 persons per dwelling.

‘Madeira Is The National Leader In The Use Of The Mobile Phone – The region is also in front in the consumption of subscription TV services’. We talk the least on the fixed home phone, and with Lisbon, the most on the mobile, with residential penetration rates of 88% (Lisbon) and 84% (Madeira).

Jardim Boycotted ; Wind Farm Inaugurated ; Summer Sales Underway

July 16, 2009 By: admin Category: Economy & Financial News, Politics & Political News

(16th July). Today’s main news headline : ‘Parties Refuse To Listen To Jardim – PS, PCP, Bloco & PND are going to boycott the agenda of the PSD leader about the constitutional review during the run-up to the elections. They won’t attend Jardim’s appearance in Parliament next Wednesday. At the same time they will debate what they consider to be the real problems of Madeira’. The political parties PP and MPT (3 people) are not part of the boycott, and intend to hear and discuss Jardim’s proposals. Meanwhile the boycotting parties are set to meet elsewhere to discuss the economic crisis and severe social crisis. Somehow I don’t think Uncle Bertie will be losing any sleep over this development, and as for the other toothless parties  having their own debate, it can be nothing other than a talking shop.

‘Energy independence is crucial, says Jardim – Yesterday he inaugurated the wind farm tripling capacity on Madeira’. Alberto João Jardim explained to an audience consisting mainly of officials of the Electricity Company of Madeira, colleagues from local government, and the councils of Calheta, Ponta do Sol and San Vicente that the issue of energy is a key element of regional autonomy, and that "it is necessary to quickly reduce the dependence from outside the region". Rui Rebelo, President of EEM (Madeira’s main electricity company), said that the planned output for the new park in Paul da Serra is 14.4 MWh / year, corresponding to the domestic consumption of São Vicente and Ponta do Sol (approximately 7200 consumers), allowing additionally the prevention of an annual emission of 10 kton of CO2 and the importation of 3.22 kton of fuel. Still using public events for political means then Uncle Bertie, though you seem to have dressed it up a little better this time.

(16th July). ‘Clothes Shops Hold-Out – The shopkeepers have adapted themselves to the shortage of money of the customers, resorting to ‘permanent promotions’. The opening of the ‘summer sales’ yesterday passed almost unnoticed’. The shops have reduced profit margins to maintain sales, ‘stock management’ is in, and variety in products goes down quite well. The first day of the official Summer sales, which are held in a period strictly governed by law, was yesterday, and new collections were appearing on the shelves of the clothing shops. The secret to survival say the traders, is to do business according to the situation, "and where there is a crisis we cannot dream of 100% profit". José Sérgio Ferreira, who says he prefers to earn 10% every day than 100% at odd times, has two shops of ready-to-wear clothes in Fernão Ornelas. The setting is traditional, he does not sell well known brands, nor does he have trendy fixtures and fittings, and the shop doesn’t lack movement, especially yesterday, the first day of the season sales. "You know how people are,  they wait and appear when it is cheaper." For some time now the clothes shops have been making price cuts and promotions, with offers like ‘buy one get one free’ becoming more popular, and new ways of informing the customer of bargains, such as by SMS, are coming into use.

The Bank of Portugal says the economy of Portugal (growth / GDP) is going to retract this year by 3.5%, and 0.6% in 2010. The prediction shows a parallel with conditions in 1975. Employment will shrink by 2.6% this year, and another 1.5% in 2010. But … a spokesman says that despite of everything, there are other European countries in a worse state than Portugal … thanks for that, I feel so much better now.


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