Portugal’s president says we should look at Ireland’s economic performance and its successful conclusion to the Troika’s economic regulation, and he refuses to call early elections because Portugal first has to become a "normal country" again.
Cavaco Silva said that it was not the Troika that made Portugal slip in the ranking of ‘ease of doing business’ in a report released yesterday to the annoyance of Portugal’s leadership.
The President believes that the parties "are all engaged" in compliance with the Troika’s rules and advises us all to look "without excessive excitement, but with tranquility and serenity" to Ireland which will, within a month, be at the end of its adjustment program.
Cavaco Silva also warned that the economic solution being worked on by the government may indeed be a secret formula, saying that normally the negotiation of national interests can not be divulged to the public.
Portugal has about eight months before it completes the Troika's adjustment programme period and the President said the government is very busy indeed concentrating on complying with the current programme. When it is at an end "at that time we will be able to say what we want to do when we return to markets, promote economic growth and reduce unemployment, everything in its own time."
The President believes that despite enormous differences between the parties, they may be able to reach an understanding similar to that which occurred in May 2011, when they signed the memorandum with the Troika. Or at least "it will be possible to have a dialogue between the political forces that signed the original memorandum with respect to fundamental aspects for our future, such as the sustainability of our public debt.”
Asked by journalists about the possibility of early elections, the head of state said Portugal did not need this distraction, "The normal elections should be in 2015. It's good that Portugal is a normal country in Europe, and it will be normal if the targets are achieved."
"We do not want to be an abnormal country within Europe, otherwise others will look at us, and the markets too, and say “that country seems ungovernable.” This is not the case. I am convinced that Portugal is a governable country and it is demonstrating this by the heavy sacrifices required of the population."
