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Ferreira, Paulo
5 articles of this author have been cited in the European Press Review so far.
Portugal must learn from Greece's crisis
The harsh austerity measures in Greece and the drastic impact on people there should serve as a lesson for Portugal, the daily Jornal de Notícias writes: "What is happening now in Greece should serve as an example for Portugal and the Portuguese and prompt them to reflect. It's not about showing us that we must save. We have been trying to resist this fact for some time now. It's mainly about finding the right focus: on the economy. To quote Professor Alberto Castro [economics professor and Lisbon's Catholic University]: 'If we are incapable of raising our productivity and competitiveness then the best we can hope for is to become like Cuba and the worst to become like North Korea.' Does that scare you? Yes, a lot. But it's true."
» full article (external link, Portuguese)
More from the press review on the subject » Economic Policy, » Greece, » Portugal
Brutal austerity measures in Portugal
Portugal's government on Monday presented its stability and growth programme, with which it aims to reduce the public deficit to three percent of the country's gross domestic product by 2013. According to the daily Jornal de Notícias the middle classes will have to make the most sacrifices: "Twenty seven million euros per day. This is the sum we must save to reach the government's goal. ... Brutal? Without doubt. ... And above all the middle classes will suffer. Around 2.5 million taxpayers won't pay more taxes but will get less back. The truth is that this is a concealed tax increase. ... To save so much money each day requires political and social stability. The finance minister [Teixeira dos Santos] yesterday asked the opposition for this political stability, but as we all know social stability is not something that can be imposed. In the next few days we will see whether this magic number - 27 million euros per day - remains just that magical and unattainable."
» full article (external link, Portuguese)
More from the press review on the subject » Domestic Policy, » Fiscal Policy, » Economic Policy, » Tax Policy, » Portugal
Portugal Telecom condemned for blocking competition
The Portuguese Competition Authority (Adc) has condemned Portugal Telecom (PT) to a record fine of 38 million euros for abuse of its dominant market position. Paul Ferreira considers that "this condemnation, which PT will appeal against in court, is an important turning point in the defence of consumer interests. This is the first time a Portuguese company has been sanctioned for this type of abuse. ... The history of PT shows that the company appreciates neither competition nor rules. Thus the PT has become emblematic of the practices that have contributed to making our country a territory that is not very competitive and not very easy to compete with: the defence of the monopoly at the distribution of profits among shareholders at the expense of consumers and the economy's competitiveness. And as of this morning, the PT can no longer say that all this is mere disparagement."
» full article (external link, Portuguese)
More from the press review on the subject » Corporations, » Portugal
Portugal fears Spains's real estate crisis
For the editorialist Paulo Ferreira, the end of Spain's economic boom is nigh, following the alarm bells ringing through the speculative real estate bubble. On Tuesday, April 24th, real estate values plummeted at the Madrid stock exchange. "The real estate fever provoked property accession for two out of three Spaniards, which is almost double the average in the European Union. Despite this, many buildings remain empty, either because they are no longer selling, or because numerous acquisitions were made for easy money. The risk that exists today, reinforced by the rise in interest rates, is a strong fall in prices and a resumption of demand that will leave a large number of families, companies and banks with big losses, whether immediate or potential. The scenario is dark, but real. Just as real as the pall that will be cast over the Portuguese economy".
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More from the press review on the subject » Corporations, » Spain, » Portugal
The planetary defence of workers' rights
The journalist Paulo Fereira considers that the International Trade Union Confederation (ITUC) - an organisation launched on Wednesday, November 1st that unites over 300 trade unions from 154 countries - can play an intermediary role in globalisation. "Though somewhat tardy, the arrival of the ITUC is good news. So long as it is not contented with good intentions and that it does demonstrate a constructive attitude without constant recourse to blockades. For a start, this means trade unions understanding that the world has changed. Hard-line defence of workers' rights in rich countries is unavailing. The rights and living standard of workers should be defended in countries that are in the process of attaining globalisation, in China, India and Brazil. As long as these countries remain poor, without any protective workers' rights, nomadic businesses will continue to have a preference for them. This is the worst scenario for the survival of trade unions themselves."
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More from the press review on the subject » Global
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