Elections in Portugal

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Sertorio
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Elections in Portugal

Post by Sertorio » Wed Oct 09, 2019 4:06 am

Left parties have won the elections in Portugal and will continue in governement. Left parties hold now 138 seats while right parties hold 88 seats. Portugal - a rather moderate country with a moderate people - is probably the only country in Europe where the socialist party gets stronger and is willing to rule with the help of parties further to the left. Conservative parties have lost many seats in Parliament, although for the first time an extreme right wing party has elected one MP. Meanwhile the economy is growing above EU average, unemployment is decreasing and interest on government debt is now lower in international financial markets than interest on Spanish and Italian bonds. We still have some structural problems needing attention, but I expect Portugal to be one of the most stable countries in Europe for the near future. Maybe not everything is wrong with leftist policies...
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Sertorio
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Re: Elections in Portugal

Post by Sertorio » Wed Oct 09, 2019 4:22 am

Portugal’s economic trajectory is a “clear success story”
8 October 2019

"In the five years that I have been in this position, Portugal has been a clear success story in economic terms", said Moscovici, the European Commissioner for Economic and Financial Affairs.

European Commissioner for Economic and Financial Affairs, Pierre Moscovici, from France, has this Tuesday classified Portugal’s economic trajectory as a “clear success story”, showing “confidence” that the country will continue in a favourable situation.

“In my five years in this position, Portugal has been a clear success story in economic terms: I have seen a strong recovery and growth, strong job creation and an impressive improvement in public finances,” said Pierre Moscovici in an interview with Lusa agency in Brussels.

Recalling the country’s progress in this period in which he was in charge of Economic and Financial Affairs, the French official said he was “confident in Portugal”, despite being “vigilant” towards other economies in the eurozone. This is because, in Portugal, “despite some moderation, economic growth has remained solid and is now more sustained by strong job creation”.

“Second, the high budget deficit has been further reduced to 0.4% of GDP in 2019 and is expected to reach 0.1% by 2020 [according to the European Commission’s forecasts]. Public debt is expected to accompany this reduction, which is why Portugal’s public finance performance is impressive,” added Pierre Moscovici.

He also stressed that “Portuguese banks have made significant progress in reducing NPL [non-performing loans]” and that “the short-term outlook also remains favourable, despite the risks arising from external factors having increased.

The interview with Lusa was even made on the day that the European Commission released its latest post-programme report on assistance to Portugal, which Pierre Moscovici will present at the Eurogroup meeting on Wednesday to eurozone finance ministers. In the document, Brussels acknowledges the progress made by Portugal, but warns of growing pressures in public spending on wages due to the thawing of careers, the growth of the state’s workforce and increases in pensions.

The report – released following the tenth post-programme monitoring mission, which took place between 14 and 19 June last in Lisbon – also indicates that the quality of banking assets has improved and the reduction in bad debt was noticeable in 2018, helped mainly by sales by portfolio banks of defaulted loans (€6 billion in 2018).

On the labour market, the European Commission also considers that, despite the positive developments, precariousness is “persistently high” and has expressed doubts about the impact of labour changes on employment growth. “More efforts are needed to attract investment, to increase productivity and to promote the business environment, factors that are crucial for [the country] to strengthen and grow,” summarized Moscovici.

https://econews.pt/2019/10/08/portugals ... moscovici/

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Milo
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Re: Elections in Portugal

Post by Milo » Wed Oct 09, 2019 7:52 pm

Yes, Portugal had the guts to buck the austerity fad.

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cassowary
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Re: Elections in Portugal

Post by cassowary » Thu Oct 10, 2019 1:59 am

I don't know anything about Portuguese politics. But I do know that when leftist parties win, the economy will go downhill.

Maybe it has done OK so far, but give it time ...
The Imp :D

neverfail
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Re: Elections in Portugal

Post by neverfail » Thu Oct 10, 2019 4:21 am

Erections in Portugal? Hardly earth shattering stuff! :D

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cassowary
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Re: Elections in Portugal

Post by cassowary » Thu Oct 10, 2019 6:36 am

hahaha
The Imp :D

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Sertorio
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Re: Elections in Portugal

Post by Sertorio » Thu Oct 10, 2019 6:53 am

cassowary wrote:
Thu Oct 10, 2019 6:36 am
hahaha
Very enlightening to see that you are more interested in erections than in elections... But that's what capitalism is all about: screwing people rather than giving them a voice... :lol:

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cassowary
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Re: Elections in Portugal

Post by cassowary » Thu Oct 10, 2019 9:14 am

Sertorio wrote:
Thu Oct 10, 2019 6:53 am
cassowary wrote:
Thu Oct 10, 2019 6:36 am
hahaha
Very enlightening to see that you are more interested in erections than in elections... But that's what capitalism is all about: screwing people rather than giving them a voice... :lol:
On the contrary, capitalism gives everybody a voice, unlike Socialism. Our voices come from millions of individual choices buying or selling goods and services.

This determines what is made or not made and who gets rich and who gets poor. Socialism has an unelected elite deciding everything for the people.
The Imp :D

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Sertorio
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Re: Elections in Portugal

Post by Sertorio » Thu Oct 10, 2019 10:33 am

cassowary wrote:
Thu Oct 10, 2019 9:14 am
Sertorio wrote:
Thu Oct 10, 2019 6:53 am
cassowary wrote:
Thu Oct 10, 2019 6:36 am
hahaha
Very enlightening to see that you are more interested in erections than in elections... But that's what capitalism is all about: screwing people rather than giving them a voice... :lol:
On the contrary, capitalism gives everybody a voice, unlike Socialism. Our voices come from millions of individual choices buying or selling goods and services.

This determines what is made or not made and who gets rich and who gets poor. Socialism has an unelected elite deciding everything for the people.
People's voices may be a bit distorted when you are strangling them... :twisted:

Image

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cassowary
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Re: Elections in Portugal

Post by cassowary » Thu Oct 10, 2019 1:32 pm

Sertorio wrote:
Thu Oct 10, 2019 10:33 am
cassowary wrote:
Thu Oct 10, 2019 9:14 am
Sertorio wrote:
Thu Oct 10, 2019 6:53 am
cassowary wrote:
Thu Oct 10, 2019 6:36 am
hahaha
Very enlightening to see that you are more interested in erections than in elections... But that's what capitalism is all about: screwing people rather than giving them a voice... :lol:
On the contrary, capitalism gives everybody a voice, unlike Socialism. Our voices come from millions of individual choices buying or selling goods and services.

This determines what is made or not made and who gets rich and who gets poor. Socialism has an unelected elite deciding everything for the people.
People's voices may be a bit distorted when you are strangling them... :twisted:

Image
That’s why some countries go broke. Too much free stuff.
The Imp :D

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