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Saraiva, José António

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

Sol - Portugal | 13/10/2013

Constitutional Court must not paralyse Portugal

Portugal's government will present its budget for the coming year today, Tuesday. The budget foresees a 3.5 billion euro cut in public spending. Some of the austerity measures may however once again be vetoed by the country's Constitutional Court. The liberal weekly Sol is adamant that this should not be the case: "The government must achieve the targets set by the troika - otherwise the country will suffer. One can argue that the country is one thing but the government and the Constitutional Court are another. .... But let's not be naïve: for other countries it's all just Portugal. Outsiders aren't interested in who is responsible for any lapses. ... If the judges overturn financially relevant requirements, the country's rating will drop even further as this would be another breach of trust. It would reinforce the impression that Portugal can't deliver on its promises. And then we'll really be hard put to avoid a second bailout package."

Sol - Portugal | 26/03/2013

Portugal needs unpopular finance minister

A growing number of people in Portugal are calling for the resignation of the independent Finance Minister Vítor Gaspar. Even the junior coalition partner CDS is publicly cranking up the pressure for his departure. The liberal weekly Sol warns of the consequences of his resigning: "An unpopular finance minister is not a bad sign but a good one. If the budget is already showing gaps, a laxer minister would be the end. And that would also make a bad impression abroad. Gaspar enjoys the trust of the Euro Group, which only recently relaxed Portugal's credit terms. His departure would reasonably raise the question: why have they dismissed a responsible and demanding minister? It would immediately raise fears that Portugal is taking the soft option and doesn't want to fulfill its duties. And the financial markets would also entertain these suspicions."

Sol - Portugal | 04/05/2012

Cheap money won't solve crisis

It is dangerous to try to encourage growth merely by supplying easy money, writes the liberal weekly Sol: "To economise or to boost growth? This is a heated debate. Supposedly intelligent people claim we are digging our own grave with the austerity measures. They clamour for loans for companies. Unfortunately the assumption that pumping fresh cash into the economy will solve all our problems is wrong. It's true that the economy needs more loans, but it was precisely the easy loans and cheap money that triggered the crisis. We can't return to the times of cheap money. Those who see loans as a magic recipe for growth forget that a company can't borrow money it won't be able to pay back later. … This has always been our problem. … We need profitable investments that are sound and create wealth. Portugal needs to attract investors: through political and social stability, less red tape, a more efficient justice system, competitive salaries and flexible labour laws."

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