The President of the Republic of Portugal today received the President of Germany Joachim Gauck and officially stated that Portugal had learned its lesson.
Cavaco Silva believes in the continuation of the “consolidation of public accounts, the trajectory of economic growth and job creation,” leaving no space for any easing of the austerity programme that has seen high unemployment, emigration and business failures.
The President of the Republic is convinced that Portugal will carry on this ‘consolidation’ of public accounts to ensure the sustainability of its public debt and also is certain that the reforms are "essential to the competitiveness of the Portuguese economy."
In an rather apologetic statement in front of the German heavy-weight, Cavaco Silva said "We have learned the lesson of recent years. The Portuguese people have behaved extremely responsibly and we now are on a path of economic growth and job creation, in particular thinking of our young people who have had difficulty in accessing the labour market."
As the head of state spared a thought for the youngsters who 'have trouble accessing the labour market' in this country anyway, he returned to the luxury of his official residence, the sumptously appointed Palácio de Belém.
Continuing today’s love-in with Germany, Portugal’s deputy prime minister Paulo Portas spoke at the Portuguese-German Chamber of Commerce, praised Germany and listed the reasons that should motivate those kindly, well-heeled Germans to invest in Portugal.
Portas said that Portugal has arguments that should instill confidence in Germans to invest in the Portuguese economy.
After lavishly praising some aspects of German business life, Portas listed four reasons why Germany investment should flood into the country.
1. Portugal has exited the bailout and its recession
2. Taxes on corporations are going down
3. The labour market is more flexible
4. There are investment incentives. Portas noted here that recent strikes and demonstrations in Portugal have all been by public sector workers.
Last on today’s pro-German platform was Economy Minister Pires de Lima who also expects German investors to continue to invest in the country, adding that there indeed had been strikes but these were by disgruntled civil servants, not by his shiny, private sector workers.
