"This is where I want to seriously comment on the news that are coming on the press, about the World, but primarily about Portugal. Don’t doubt, this will be about politics, economics and society. And, especially, about my personal views on those."
Friday, 16 September 2011
Regional expenses
It is interesting to understand that in both Portugal and Spain the regions are spending well above the central State (on a per capita and GDP basis) and are actually a severe obstacle to the public administration reform. When you look at Madeira in Portugal (its public debt level / capita is twice the Portuguese average...) or that 12 out of 17 regions in Spain are above its deficit targets, it is difficult not to think that maybe those models need also to be redrawn - and, beyond any doubt, better controlled.
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