Government signs another new deal over German submarines

submarineIn a cunningly timed agreement, the government and the German Submarine Consortium have scrapped a previous agreement to develop the Falesia Hotel in Albufeira.

Instead there is an agreement that the Germans will invest €220 million on eco-energy from wind power through an involvement in Ventiveste.

Project ‘Âncora’ sees Ferrostaal GMBH buy into the company owned by Galp Energia and Martifer to develop a number of wind farms in Portugal, according to a tightly worded announcement from the Ministry of the Economy.

“This agreement between the State and the German Submarine Consortium replaces the previous agreement on Falesia Hotel, Albufeira, which had been signed by former Economy Minister Alvaro Santos Pereira in 2012.”

The first agreement came long after the Germans were meant to have invested the €600 million contra deal balance in Portuguese projects. Having shelled out €30 million in bribes the consortium seems to have believed that this was enough and nobody would ever insist that it invests in Portuguese projects as per the signed agreement.

The Falesia hotel deal was scuppered when the hotel owners allegedly jacked the price up, although this was hugely convenient for the German company which has sat on its hands when it has come to honouring its part of the submarine deal.

Meanwhile, the questioning of everyone involved in the 2004 submarine purchase continues as a parliamentary committee listens to a litany of excuses, evasive answers and blame shifting. Everyone that is except Barroso, the then Prime Minister, who is far too important and busy to be dragged into the fray.

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+4 #1 Edna 2014-07-24 18:20
Anyone else watching Portuguese TV news last night ... the Parliamentary Committee investigating the submarines deal ?

Did you notice Chief White Eagle - the Minister of Defence - say with a grin that he had no idea where the paperwork about the deal was.

Phew ! Chief Doors (Vice PM) and all the Portuguese elite could relax ... They had thought for a moment the bloke might go 'european' on us.

Longer memories of a few months ago ref: Public Private Partnerships will remember that 'missing paperwork' was the reason for that Parliamentary Committee shelving its report.

Then presumably the Troika forced a new search and BINGO ! ... the PPP papers were found in an unused desk drawer. Catching out Squaw White Oak - Finance Minister soon off to Brussels.

Once again we rely on the Germans to keep the subs on the surface ... don't let the Portuguese dive them ! :P

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