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Pereira, Pedro Marques

Editor of the portuguese economy daily "Diário Económico"

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2 articles of this author have been cited in the European Press Review so far.

Diário Económico - Portugal | 02/12/2008

ECB must lower key interest rate

According to the business paper Diário Económico, the EU rescue package will achieve little unless the European Central Bank (ECB) considerably lowers the key interest rate on Thursday: "The banks are simply the tip of a system which is based on the consumption of consumers. Without consumption companies can't be successful and there can be no investments and no loans. ... The rescue packages of the respective governments are simply oxygen balloons; their success depends on the revival of economic activities. ... The ECB must convince consumers and companies to consume and invest once more. In the wake of the financial crisis the ECB surely doesn't need to be reminded of this. The speeches of [EU Commission President José Manuel] Durão Barroso should therefore be aimed at persuading the governments of the EU states to take a break from their bank rescue initiatives and dedicate their efforts to saving the economy."

Diário Económico - Portugal | 30/09/2008

A financial September 11

For Pedro Marques Pereira, chief editor of the Diário Económico, the rejection of the 700 billion dollar bailout represents a financial 9/11: "The world changed seven years ago on September 11. At that time many people prophesied the US would turn inward on itself. The opposite happened, and the country even strengthened its role as the sole global power. I will leave the mistakes it made for another discussion. But can one deny the world would be better without its leadership, that is to say with no leadership at all? The fact is that when something goes wrong, the world continues to pin its hopes on the US, as we have seen with the Paulson bailout plan. This would be a good time for others to take the baton. ... The fact that Uncle Sam is not going to go on writing blank checks could lead to greater changes in global power structures than we saw with September 11."

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