Italy is just another sign...

... that we the euro situation solutions that are being implemented do not address the real problems. Eurozone needs to do 2 things urgently:

- implement an integration plan immediately, consolidating economical governance in Europe towards a single economic policy;

- start growing. Understand and implement a growth strategy focused on productivity (like Germany did) and competitive advantages, instead of inefficient public spending.

Europe is an amazing small region, with the best living standards in the World, and, probably, the most developed social, political and environmental conscious in the world. But, for that, we need to understand how sustainable our economy is to support it. We need to get our economy going!

http://economia.publico.pt/Noticia/italia-entra-na-zona-de-perigo-com-juros-acima-dos-7-1520157

http://edition.cnn.com/2011/11/09/world/europe/italy-berlusconi/index.html

Stepping down

Many times, when a top politician resigns, stability shouldn't be a concern. Actually, that politician needs to stand down to break the stiff situation, to prompt changes, reforms that are much needed. It is not only a punishment - it is a recognition that to move things forward, some key actors need to be replaced.

So, Mr Berlusconi, please, move out...

http://www.publico.pt/Economia/acumulamse-rumores-sobre-a-demissao-de-berlusconi-1519830

Think positive III

- Guimarães was considered a top 10 destination for 2012, by Lonely Planet

- the shoe manufactury industry in Portugal is a great example of turnaround of an old an uncompetitive industry, thanks a new competitive, global and branded marketing strategy

- Cascais and Estoril area establish themselves further and further as top destinations for sailing, golfing and corporate events.

Why did McDonald's fail?

Yes, it is true. In Bolivia McDonald's didn't succeed and had to leave the country by the back door. The trailer in the link below (all in Spanish) is about that extraordinary event (it is something that is not very usual...), explaining like price and products taste lead to a McDonald's failure.

http://www.clubdarwin.net/seccion/negocios/la-curiosa-historia-del-pais-donde-mcdonalds-quebro-y-salio-por-la-puerta-de-atras?utm_campaign=30segs&utm_content=182309832&utm_medium=email&utm_source=Emailvision&utm_campaign=30Segs&utm_content=182296911&utm_medium=emailemail&utm_source=Emailvision >p>

P.S- Obrigado mais uma vez, Tiago, por me chamares a atenção para este artigo.

On Draghi note

The new BCE supremo, Mario Draghi, stated in a note that the Eurozone countries in difficulties should actually concern more about doing the necessary and adequate economic reforms. Mr Draghi, let me tell you that's exactly what we are doing now in Portugal!

http://economia.publico.pt/Noticia/governos-da-zona-euro-nao-devem-contar-com-ajuda-do-bce-1519399

It is true...

I once read that everytime you take a 30 minutes detour of your way to go to a bargain gas station offering a 0.05 euros discount per litre on gas, you are valuing your time at €5 a hour. Please, check if you actually couldn't be doing something more valuable...

On Greece's referendum

I fully understand why Papandreou stated it will run a referendum and why Greece wants it on the Eurozone debt pardon and solutions that were negotiated last week. He needs to put the power back on his voters hands. Or, at least make them feel it.

Because, actually, there aren't many solutions. Greece debt level and deficit, its chronical low level of tax revenues vs Governmental spend ruin any smooth solution. Greece is put between 2 choices: if it accepts the Eurozone solution, part of its debt will be pardoned, the country will move out of sovereign debt markets for the next 20 years and it has to live off European assistance; if it rejects it, it will default on its debt, don't get European support and not have money to pay its social policies and current public salaries - in a word, bankrupt.

Still, it is a sovereign decision. And I believe Greeks should do it directly. But it really is a high risk gamble without a positive outcome either way. And trully jeopardizing the Euro...

http://business.blogs.cnn.com/2011/11/01/greece-plays-chicken-with-its-people-and-europe/?hpt=hp_c1

http://economia.publico.pt/Noticia/papandreou-acredita-que-referendo-vai-reforcar-a-grecia-na-zona-euro-1519117