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Laura

Crisis Is Nearly Over In Portugal

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http://www.the-news.net/

Following the release of the latest economic figures, which, by all accounts allow for some optimism, the Minister of Finance has this week said they are proof that the country is turning the corner and the current economic crisis could be coming to an end.

After more than a year of recording heavy drops, both the economic climate indicator and consumer confidence have this week shown positive gains, the Office of National Statistics revealed this week.

The positive data in Portugal follows similar results in the Euro Zone, where consumer and business confidence reached their highest levels since late last year.

“The crisis will come to an end, it won’t last forever. And these are the first signs that this is in fact the caseâ€, said the Minister this week.

“I want to believe that we are closer to the end of the crisis than to its beginning, and I believe that we are passing the worst moments of the crisisâ€.

The Minister attacked members of the opposition and certain sections of the media for suggestion he was a victim of his own wishful thinking.

“What I am saying is that we have reached the beginning of the end of the crisis – not that the crisis is overâ€, explained Teixeira dos Santos on the eve of the state of the nation debate in Parliament held on Thursday.

The improvement of consumer and business confidence indexes are “frankly, very positive signs†and suggest that Portugal is entering a phase which the Minister says could spell the end of the current crisis.

Most recent quarterly GDP growth statistics showed Portugal had recorded the third highest growth figures in Europe, while it was also found to be the most competitive economy in southern Europe.

Following these encouraging statistics, the Finance Minister predicted that the economy was likely to recover sooner than expected and could actually grow in the second half of the year.

Teixeira dos Santos has nonetheless resisted the temptation to assume an euphoric stance despite latest figures both here and abroad allowing for an optimistic outlook on the immediate future.

In recent comments, Teixeira dos Santos explained the reasoning behind his increasingly positive outlook: “With the high level of uncertainty in mind, I think the Portuguese economy is now passing through the worst period and I think that as of the second half we will start seeing positive signs ... basically, I expect quarter-to-quarter growth in the second half of this year.â€

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....thanks Laura, we're packing our bags now. Can you meet us at the airport? We'll be the ones wearing head to toe Burberry. (matching luggage of course)

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Oi!!!

You can't go dismantling pigs. Stand up for porcine rights!

OINK

Or maybe it will become BIGS if Britain replaces Portugal

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Is there a standard crib sheet on this or something?

All the VI's are singing for the same hymn sheet thats for sure and it doesn't have national boundaries either.

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Michael Jackson?

NOT on one of my threads if you please! <_<

hotairmail Posted Today, 11:58 AM

Is there a standard crib sheet on this or something?

Exactly. Worldwide Govt. front-line operatives (& Ray Boulger) are puppets......but we already knew that!

council dweller Posted Today, 11:05 AM

....thanks Laura, we're packing our bags now. Can you meet us at the airport? We'll be the ones wearing head to toe Burberry. (matching luggage of course)

Gawd, not another bunch of refugees :rolleyes:

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