Portugal in the World

Some of you might not know Portugal, but it’s a little country on western Europe.


Portugal is a very odd country: we have some great things (e.g. the greatest bridge in Europe) and some bad things (e.g. a relatively high adult illiteracy rate). Anyway, in general I’d say it’s a very pleasant country: good weather, great people, no great problems, political stability and a stabilizing economy. Come and visit us. 🙂

On the past days I’ve seen two news that were illustrative of how things happen in Portugal: Paypal launched a Virtual Debit Card and the EU’s Portugal case study as an example on how a country shouldn’t adopt the Euro.

Virtual Debit Cards exist in Portugal for ages. You know, Portugal has one one the most advanced interbanking networks in the World. And five years ago the company (formed by the existing banks) that regulates that interbanking network (SIBS), launched a service called MBnet that allowed the creation of a virtual debit/credit card, which can only be used once and up to the amount you define. Aren’t we futuristic?

Regarding the second item, Portugal didn’t really manage the adoption of the Euro, that caused things like lost of external competitiveness, growth of the public deficit and lost of purchasing power. Economically we’re still facing some problems due to that lack of effective policies.

Portugal is trying to attain the desired balance. We don’t need to be the best and we surely must not be the worst. We must first try to reach a reasonable, sustainable general situation and from then on match (or even surpass) the European Union reference indicators.

Última actualização: 16/01/2012


Um comentário a Portugal in the World

  1. Jonh-Lewis Fevereiro 26, 2008 at 21:40 #

    i agree i love portugal. the people is very polite and fun.
    i liked a lot…

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