Political instability affects Madeira

Pontinha investment delayed

JM featurung instability

Following up on the previous post, the prime minister’s resignation “drags the country into political instability that also affects Madeira” according to JM this morning. António Costa’s decision was communicated shortly after being implicated in an investigation into the energy market. The chief of staff and consultant are detained. The list of defendants includes two more ministers, a former government official, a mayor and two businessmen. 

JM conjectures that the collapse of the socialist majority hastens the scenario of early elections in January.

Costa’s dismissal “freezes funds for Madeira

Political instability affects Madeira 1

The Diario leads with a report that Costa’s dismissal “freezes funds” and adds to instability in the Archipelago.

The reinforcement of €74 million in transfers is expected to fall by the wayside and the registration of new companies at the Madeira International Business Centre is once again postponed – further adding to instability. The new State Budget should only arrive in June of next year.

Note that in the Diario, the word “resignation” has changed to “dismissal”?

Pontinha investment delayed

The proposed extension to the Pontinha in order to increase cruise ship capacity is an investment that is proposed only after the new hospital has been completed according to the latest Government program for the next four years. It has postponed work that was under study.

Polish market growth

But there is more to see in the issue. Polish tourism grows 28%. The 4th largest issuing market in Madeira was responsible for close to 465,000 overnight stays in the first nine months of this year. 

Readers Opinion Poll

A number of recent Comments show an increasing concern at the number of new developments based around increasing tourism on the island. A poll has been created to allow readers to pass their opinions accordingly.
Visitors can only vote once, and results are displayed after you cast your vote.

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