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Portuguese report Portuguese report
by Euro Reporter
2008-09-16 09:05:02
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Bank of Portugal

Portugal is likely to experience an economic slowdown in 2009 because of the lingering effects of the international credit crisis, the governor of the Portuguese central bank cautioned recently. Vitor Constancio also noted that inflationary pressures would continue to be felt in the short term. Constancio was addressing an economic conference in Lisbon. He said that the turbulence and its conditions “aren’t yet over.”

Like its Euro-zone peers, Portugal has seen high oil prices take a toll on its economic growth while also contributing to inflationary pressures. Portugal was the only country among the 15 to suffer an economic contraction in the first quarter. Constancio – who is also a member of the European Central Bank Governing Council –said he expects Portugal to show economic growth similar to that of the Euro zone in the second quarter, because the economic backdrop likely would deteriorate for the 15 member states.

Well these days there is no European bank with no problems!


A bear demonstration

The four activists and their supporters, members of the international animal rights and welfare group Accaio Animal (AA), are demanding that British Queen and the British Defense Ministry stop using real black bear fur in ceremonial hats. “There was no need in this day and age to cull 100 endangered black bears a year to decorate purely ceremonial hats that had no military importance,” AA in Portugal spokeswoman Hugo Evangelista told as quoted by the local newspaper Resident.


New internal security legislation

The Portuguese opposition and judges’ representatives on August 26 criticized the country’s new internal security legislation, describing it as undemocratic and unconstitutional. President Anibal Cavaco Silva on August 25 signed legislation approved in May with the votes of the governing Socialist Party, which has an absolute majority in parliament. The legislation increases the powers of police investigators and creates the figure of a general secretary for security who will report directly to Prime Minister Jose Socrates.

Isn’t it worrying when police increases its powers? And hasn’t 'terrorism' become the magic word?


Lisbon’s trade

The Vice-President of the Trade and Industry Chamber of Moldova Vladimir Didilica and Secretary General of the Trade and Industry Chamber of Portugal Pedro Madeira Rodrigues signed a cooperation agreement in Lisbon. The two officials stressed that the agreement will allow defining new cooperation spheres and business opportunities for the entrepreneurs of the two countries.

The signing ceremony was attended by the Ambassador of Moldova to Portugal Mihail Kamerzan, as well as representatives of the Moldovan business, who attended Portugal on the invitation of the Portuguese side.

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AP2008-09-16 13:07:57
"spokeswoman Hugo Evangelista told as quoted by the local newspaper Resident."
Hugo is a spokesman for sure.

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