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Hi all,
I just read this article. I did know about the problem with Madeira, but was not aware how big they are.
What about CV’s future from a Madeira-perspective view.
– If there are parallels?
– Differences?
– Risks?
– If we can act / influence?Brgds
Mikael
http://madeirapolitics.blogspot.se/2012/04/sunday-telegraph-on-madeira.html
Hello Mikael,
welcome to the forum !
Very interesting article, but I personally do not see too much parallels to Cape Verde. Here we have not borrwod such high amounts of money, most of it are donations, some of them in exchange for rights of using natural ressources as fishing etc. So the debt itself is not so high by far as for Madeira I think.
Did you read about the B+ credit rating of Cape Verde as of Standard & Poor´s ?
Also have in mind the fast growing tourist industry on the Islands, which was +25% which Madeira at this point would not be able to reach I think…
Hello Daniel,
Well I have the feeling of the little information that I have read that the economy is handled better on the CV. But I have no official figures. I wonder for example what developers earn their money. In Sweden, anyone can examine, for example any companies accounts, where and how much revenue is. There are always people who are weak to type: I scratch your back if you scratch mine. The risk is greater if the public is missing.Clearly it is harder to borrow money from Portugal and Europe.
But if Cape Verde play the cards right and take advantage of Madeira’s mistake, it can even get to Cape Verde’s favor.
Reasonably, Madeira must start paying and it will be well as usual from higher tax. A more expensive Madeira is not wrong from a Cape Verde perspective.
I think the future is in tourism, environment, new energy and agriculture.
Mikael
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