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Ganhão, Miguel Alexandre
3 articles of this author have been cited in the European Press Review so far.
Euro 2012 can pay off debts
After the return matches on Tuesday for the Uefa Euro 2012 football championships it is clear that the teams of all EU debtor states will participate. Miguel Alexandre Ganhão recommends in the tabloid Correio da Manhã that the Troika should follow the event closely: "This is certainly not the beginning of the end of the crisis, but it does send an important signal. ... Football now has a huge opportunity to buck the pitiless logic of the financial markets and offer a true prospect of economic recovery. My suggestion: the games should have direct repercussions on the countries' debt. A goal for bankruptcy candidates like Greece, Ireland, Portugal, Spain and Italy would lead to a partial waiving of their national debt or a further injection of funds. Roughly a billion euros would ride on each match - in the case of a victory for the creditor this amount would of course be added to the loser's debt. Matches pitting Germany against Portugal would have unparalleled appeal, just like those between France and Greece or the Netherlands and Ireland."
» full article (external link, Portuguese)
More from the press review on the subject » Fiscal Policy, » Sport, » Europe
Rating agencies a threat to democracies
The international rating agency Fitch has lowered Portugal's credit rating from AA to AA-. According to the daily Correio da Manhã democratic states should defend themselves against such private megalomaniac fantasies: "At the beginning of September 2008 Fitch raised the credit standing of Lehman Brothers investment bank to A+ ... . On the 15th of that very same month Lehman declared bankruptcy with toxic papers totalling more than 100 billion euros. The day before the government is due to present the austerity programme that will make victims of millions of families Fitch lowers Portugal's credit rating, aggravating the Portuguese's problems. There is no democratically elected government that can withstand the manoeuvres of an international agency that is neither regulated nor monitored in any way. An end must be put to these financial putsch attempts."
» full article (external link, Portuguese)
More from the press review on the subject » Fiscal Policy, » Economic Policy, » Banks, » Portugal
Interest rate increase puts families under duress
The Correio da Manhã complains that the ECB's plans to raise the key interest rate will place a heavy burden on consumers: "The price of goods and services is rising with each month that passes. Some economists describe this inflation as the hidden tax that is eating away at families' buying power. The European Central Bank is desperately fighting against this phenomenon, but ECB President Jean-Claude Trichet is about to lose the battle. Inflation is at four percent in the Eurozone. ... Trichet has said that there is a risk that inflation could explode out of control, and this is why he will announce an increase in the base interest rate today - a decision that will lead directly to an increase in the mortgage interest paid by millions of families who are already struggling with rising food and fuel prices from month to month. Starting today Europe's families will have even less money. If we continue like this things will only get more and more difficult, Trichet!"
» full article (external link, Portuguese)
More from the press review on the subject » EU Policy, » Fiscal Policy, » Europe
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