Isabel

One of the best ways to launder money is to buy a bank

Cross-border journalistic investigation has uncovered an enormous corruption case orchestrated by Africa’s richest woman Isabel dos Santos, the first daughter of Angola’s former president Jose Eduardo dos Santos and known in her home country as ‘the Princess’. The Angolan government claims that she has caused over a billion-dollar of losses to the Angolan state.

At the centre of the charges are claims that she used her position as chairwoman of Angola’s state oil company Sonangol – of which she was the main shareholder until sacked in November 2017 – to illicitly make millions of dollars payments via her EuroBic bank in Portugal to companies in Dubai controlled by her friends.

BPI (the Portuguese Investment Bank) – party owned by the Angolan billionaire – willingly provided dubious services to her by opening a bank account for an offshore shell company on the Isle of Man to facilitate her buying of a 60 million worth real estate in Monte Carlo.

Joaõ Batalha of the Portuguese branch of Transparency International believes the Bank of Portugal – that under Portuguese law regulates banking activities in the country – was blatantly complicit. Former Euro MP of Portugal’s Socialist Party Ana Gomes has no doubt about it. ‘Portugal has become a laundry for corrupt money, that is bad for our reputation.’

Gomes points to EuroBic as an example of the complicity between former coloniser Portugal and Angola for the personal enrichment of the elites on both sides of the Atlantic. ’Under the former Portuguese finance minister Fernando Teixeira, the collapsed BNP bank was saved by the state with a huge injection of € 5 billion, creating EuroBic.
The bank was then sold to Isabel dos Santos for € 40 million and who became its CEO? Indeed, Fernando Teixeira!’

The level of complicity is very much political. It isn’t just Isabel and her husband, the Congolese art collector Sindika Dokolo. She was acting as frontwoman for her father, the former president of Africa’s fifths biggest economy, who since 2018 lives in Barcelona and is said to have been stolen over 100 billion from the Angolan state during his four-decade presidency.

As more details about the corruption scandal become unveiled, Portuguese companies exposed to Isabel’s empire – energy giants like Galp and Efacec and telecommunications firm NOS – are holding their breath.

Questions are being asked about the Dos Santos 6% stake in Portugal’s oil firm Galp, the second biggest company on the Lisbon stock exchange market, with operations in Angola, Brazil and Mozambique. With a loan from Sonangol € 75m was paid for the stake, which was well worth over € 700m in February.
Last month alone millions ‘in cash’ were discovered in a safe deposit box that she holds at a branch of Novo Banco in Porto.

In April a Lisbon court ordered the ‘preventive seizure’ of Isabel’s 26% stake in Portuguese telecoms company NOS after a generalized freeze in February of all her bank accounts in Portugal in response to a request from Angola’s attorney general, who threatened to issue an international arrest warrant against her if she fails to cooperate with the investigations.

Isabel dos Santos– who in the summer of 2018 moved from Luanda to London – maintains that she is the victim of a political witch-hunt and doesn’t believe in a fair trial if she returns to Angola to defend herself.

Opinions remain divided over whether the Judiciary in Lisbon will be able – and willing – to flex its muscles given that investigating Angolan corruption will implicate senior Portuguese officials from across the country’s political spectrum.


Stay healthy                                    Fique saudável             (pic público/sapo)





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72%

Government takes majority shares in TAP and Efacec in midst of pandemic

The minority government of António Costa saved this month two strategic companies, securing thousands of jobs. It bailed out flagship airline TAP and nationalised Efacec, the technological company – with over 2500 highly qualified employees and activities in more than 60 countries – brought down by its association with the former first daughter of Angola and richest women in Africa, Isabel dos Santos.

Efacec Power Solutions is not nearly as important as TAP. The idea is only for a temporary nationalisation until the end of the year in order to guarantee that salaries and bank loans can be paid, and the confidence of clients and suppliers restored. A dozen potential buyers from Portugal, Spain, the US and China are on the horizon and it’s only a matter of time before the company is reprivatized.

Buying up Isabel dos Santos’ majority (72%) share in Efacec is moreover a decent way to get rid of her involvement – which has done the company no good since her name was reviled across the media around the world for pillaging her homeland of hundreds of millions, and her assets frozen in Portugal and Angola.

Despite the nightmare of what to do with TAP – crippling losses in recent years exacerbated by a further 395 million loss in the first two months of this year – on the long run, the government has taken a clear stand. ‘TAP is fundamental for our territorial continuity, for our connection to the world and our economic development’, declared PM António Costa. The airline – with a workforce of 10.000 and contributing 2.6 billion to the export in 2019 – is just too important for the nation to let it fall.

By spending 55 million to buy out the American private shareholder David Neeleman, and committing to an injection of 1,2 billion – approved by Brussels – into the company, the state now effectively controls TAP with 72% of the capital and took the ‘worst-case scenario of nationalisation’ off the table.

As the company is in technical bankruptcy with a debt of over 775 million euros, the approval of Brussels will, by all means, imply a substantial restructuring, including a reduction in the number of routes and planes and consequences on employment.
Since the beginning of the pandemic crisis, more than 1000 fixed-term workers have been dismissed due to non-renewal of contracts but undoubtedly more layoffs will follow in the next months.

Stay healthy                          Fique saudável            (pic Público/Sapo)



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Xenophobia

‘From now on, every time we – black women – look at the steps of the Parliament, we will not see each other with buckets and mops to clean – we are inside and have a voice ’  (Romualda Fernandes, MP)

A hundred protesters marched on Saturday the 27th of June through downtown Lisbon shouting ‘Portugal is not racist’. The demonstration was organized by Andre Ventura, the leader of the Far Right-party Chega (Enough).

Last October, Ventura won the first far right’s seat in Parliament, where he will face strong opposition of three newly elected black deputies with a Guinean background, Joacine Katar, Beatriz Gomes Dias and Romualda Fernandes. Never before in history was the composition of the Assembly of the Republic that diverse.

The march was held three weeks after thousands gathered in the capital in protest against racism and police brutality and took place at a time when the authorities are worried about a new wave of coronavirus cases in the outskirts of Greater Lisbon, where new lockdown measures have been installed in 19 parishes of Sintra, Loures, Odivelas, Amadora and Santa Clara.

The European Social Survey (ESS) recently showed that nearly two-thirds of the Portuguese people have prejudices on racism; either biological (‘Are there ethnic or racial groups, by nature, more intelligent?’) or cultural (‘Are there cultures, by nature, more civilized than others?’). One in three Portuguese manifest racist opinions on both biological and cultural racism. Only 11% of the population disagrees with all racist beliefs. 

The older the Portuguese are, the greater the number of people who manifest racism.
Although the majority of young people disagree that there are more intelligent ethnic or racial groups, 70% believes that certain cultures are more civilized than others.
Higher levels of education or income do not completely erase racism even though less racism is noted among these citizens.

The good news in the survey is that in recent years the position of the Portuguese against immigrants from different ethnic backgrounds has improved.
Five years ago Portugal belonged to the three EU countries that were most opposed to receiving immigrants from poor countries but it evolved towards greater openness and has become one where this objection dropped significantly.

 ‘However it remains to be seen how these immigrants are integrated’, underlines Alice Ramos, a sociologist at the Social Science Institute of the University of Lisbon. ‘You would have to know why people think that immigrants should enter, what jobs they should do and what they think about nationality and family reunification?
The results do not contradict the results of racist beliefs. It is one thing to give an opinion, the other is an attitude of discrimination against someone with a different ethnic background.’

Stay healthy                          Fique saudável             (pic Público/Sapo)











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Homeless

‘The street is not a choice – we want houses’

Once upon a pre-Covid time, President Marcelo Rebelo de Sousa promised that he would personally see to it, that all 400 homeless in the capital got off the street in 2023. Since the new virus hijacked the country’s economy very little has changed. In fact, there are a lot more new faces on the street.

On the 15th of June tens of homeless people gathered before Parliament to express their displeasure. Sara – one of the protesters – has no job and feels discriminated against by the government. ‘I am not a number, I am a person. We have a right to housing!’

Many homeless people, don’t believe in shelters as they lump too many problematic individuals together under one roof.
The best solution would be to discuss with the homeless the needs of each and every one.
‘

‘The government give us a minimum income of 189 euros per month but that is not nearly enough to rent a room.
When the landlords know we are homeless, they ask a six months deposit for a room.
There are a lot of abandoned houses in Lisbon. Why can’t they be used to rehouse the homeless?’

Manuel Grilo – Lisbon’s councillor for Education and Social Rights – declared that since the beginning of the pandemic 500 homeless people have been attended in four emergency centres created by the municipality.

47 of them have been referred to the Housing First program, a project financed by the City Council in which people are integrated into individual housing and supported by professionals. The municipality hopes that by the end of the year a total of 380 people will be accommodated through this program.

According to Guerreiro – another homeless protester in front of Parliament – the councillor of the Left Bloc lives out of reality. ‘Until today, there is not one municipal house attributed to a homeless person!’

In order to judge the evolution of homeless cases ‘on the ground’, the President recently paid a visit to the Avenida AlmiranteReis, Cais do Sodré and Santa Apolonia in Lisbon.

‘It is sad to see that the new crisis means an increase in homelessness, especially among young people. Now saying that the 2023 goal will be met, would be a lie with over 100.000 unemployed in Portugal due to Covid’.

Stay healthy                 Fique saudável             (pic PtRes/Público/JEcon)






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Recovery

Before the pandemic, the Portuguese economy grew at a faster pace than the eurozone and the country ranked 28 on the list of wealthiest nations, despite its low rates in advanced education (50% of the population has only primary education; the highest percentage in Europe!) and average income (807 euro/month).

When the Chinese president Xi Jinping visited Portugal 18 months ago, the country willingly signed a multitude of cooperation agreements. At that time the socialist minority administration felt positive about the so-called ‘new Silk Route’.

In the meantime, its ‘golden visa program’ had opened the floodgates to Chinese buying up all sorts of property, banks, hotels and insurance companies.

But the tide has turned. The current public health crisis will drive a contraction in real GDP, and the long-lasting impact of the coronavirus on tourism will prevent a quick recovery in 2021.

An important economic lesson learnt, is to reduce dependence on imports from China. ‘This is the moment for Portugal to return to producing much of what we have been habitually importing’, Prime Minister António Costa declared.

To support the economy and prevent a debt crisis, Portugal can get 26.361 billion euros – 15.526 billion in grants and 10.835 billion in loans – from the European Economic Recovery Fund.

In order to access these funds, the country has to commit to the implementation of a reform plan program approved by the European Commission and the majority of the EU Council.


The government intends to use these assets to decarbonize the economy and reduce the imports of natural gas by developing an industry around hydrogen.
A European hub of ‘green energy’ (so-called because it is produced from renewable energy) close to Sines, one of the country’s major ports.

Sines is the perfect choice with its coal and oil-fired plants being disabled, and the network of existing gas pipelines 70% ready to distribute hydrogen. ‘Green hydrogen will be very cheap to produce and boost qualified employment’, says João Pedro MatosFernandes, the Minister for the Environment and Energetic transition  

Another strategy to overcome the economic crisis caused by the pandemic, is to transform the country into ‘a cluster of industrialisation’, explains Minister of Foreign Affairs Augusto Santos Silva. ‘Portugal wants to be at Europe’s reindustrialisation forefront. We are talking here about textiles, clothing, shoes but also engineering, pharmaceuticals and agrifoods’.

He stressed that the country has important assets it can use like, qualified human resources, low wages, technology, quality of services and dominance in renewable energies.

Stay healthy        Fique saudavel            (pic Público/Sapo)














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Release

‘As long as there is Covid , there will be no normal life’  (António Costa)

Portugal’s State of Emergency has changed into a State of Calamity as from the beginning of May and with approximately 100 deaths per million inhabitants.

This implicates that ‘the future depends on the efforts of every single citizen to make a success of the country’s return into the world of business’, according to prime minister António Costa.
In other words, social distancing and hand hygiene should remain in place.

Contrary to other European countries, Portugal rejects contact tracing. Both the president and the prime minister consider the measure to start putting citizens under permanent increased surveillance ‘unconstitutional’.

The release began on the 4th of May with the reopening of small local commerce (including opticians and dentists), bookshops, libraries, driving schools, hairdressers, beauty salons, public services and transport. All required special measures, in particular the use of masks. Not wearing one in public transport may be fined with 350 euros.

Without a spike in the number of infections, it was decided on May 18 to reopen restaurants, cafés and pastelarias (all running at 50% capacity), terraces, museums, art galleries, shops of up to 400 sq m, schools for 11th and 12th-year pupils taking national exams (with pupils and teachers wearing masks) and creches (as yet on a voluntary basis).

Other details of the State of Calamity involve a restriction on gatherings to a maximum of 10 people, funerals involving family members only (without restrictions on the number) and teleworking to be continued until June 1. The end of restrictions on ‘religious gatherings’ and resumption of the Premier Football League (without public) are scheduled for the final weekend of May.

The official beach season will start on June 6 although the country is set for a spring heatwave at the end of May. A ‘traffic-light system’ is being rolled out as a way of avoiding ‘militarised order’ on the more popular beaches Costa da Caparica, Cascais, Oeiras, Carcavelos and in the Algarve . The idea is that beachgoers adhere to the traffic lights or lose access to the beach altogether.

Sunshades (for max five persons and to be rented for half a day) have to be placed three metres from each other, the general 1.5 meter distance rule has to be respected at all times and masks are mandatory when entering beach restaurants and bars. Moreover, a new mobile phone app will carry information on supervised beaches, allowing beachgoers to plan ahead.


Stay healthy                          Fique saudável             (pic Público/Sapo)



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Language

‘We can say anything, language has no limits’ – Georg Steiner.

Saudade is a unique word in Portuguese that has no direct translation in English. It means something like a melancholic or nostalgic desire for a person, place or event far away, either in space or time.
Esperto is another example. On the ball, brainy, smart, canny, with-it and intuitive, all help to approximate its meaning. In Brazil, the word can also mean someone who traps or fools others into trouble.

The Portuguese language exists more than 800 years and is spoken by over 260 million people (3,7% of the world population). It is – after Mandarin/Chinese, English, Spanish, Hindustani and Arabic  – the sixth most used language in the world.

Official vernacular in the nine CPLP (Portuguese Language Speaking Community) countries – Angola, Brazil, Cape Verde, Guinea Bissau, Equatorial Guinea, Mozambique, Portugal, Sao Tome & Principe and East Timor, in use on virtually every continent and predicted to be spoken by over 380 million people in 2050.

Its expansion is closely linked to the history of the Portuguese Discoveries in the 15th century and still today echoes of Portuguese can be heard in the streets of Goa (India), Malacca (Malaysia) and Macau (China).
Although it was Portugal that expanded the language in the past, nowadays Portuguese-speaking countries like Brazil, Angola and Mozambique are mostly responsible for the growing interest in the Portuguese language.

Originating from Latin – from which it evolved into Galician-Portuguese – the language that would become Portuguese, began to be spoken in the Northwest of the Iberian Peninsula around the 6th century. It was expanded to the South with the Christian reconquest, at the same time influenced by Arabic from which many words derive, such as almofada (pillow), aldeia (village), alface (lettuce), alfândaga (customs) and açafrão (saffron).

The testament of King Afonso II – dated June 17, 1214 – is considered as one of the oldest written documents in Portuguese. It marks the beginning of the period of ancient Portuguese that would last until the publication in 1572 of the first book in modern Portuguese, The Lusiads, Portugal’s national epic by Luis Camões. 

The United Nations Educational, Scientific and Cultural Organisation (UNESCO) declared in November last year the 5th of May as ‘World Portuguese Language Day’. Unfortunately, the opening celebration could only take place online as a result of the coronavirus pandemic.

Stay healthy                          Fique saudável            (pic Público/Sapo)





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Praise

‘Bury the dead and feed the survivors’  (Marques de Pombal, 1755)

Le Figaro:                        ‘The Portuguese mystery’
Int Busin Times:             ‘Portugal stands tall in the midst of the chaos’
The Guardian:                 ‘Swift action kept Portugal’s coronavirus crisis in check’
Der Spiegel:                     ‘The Portuguese miracle’                                            
El País:                             ‘Portugal, the southern Swedes’ 
Euronews:                       ‘Why has Portugal not been as badly hit as Spain?’       
Politico:                            ‘How Portugal became Europe’s coronavirus exception’

Portugal’s successful battle against Covid-19 has come under international media spotlight and regarded by many as exemplary. With a quarter of the population of big brother Spain, Portugal has around one-tenth of the number of cases and a three times lower mortality rate.

There are a number of different theories for why the virus has caused so much less suffering than in neighbouring Spain.
The hardest to disprove of is: ‘Portugal has its pilgrimage site of Fátima’.

With just 4.2 critical care beds per 100.000 people  – the lowest in the EU – and an underfunded public health service, the Portuguese people understood very clearly – after witnessing the horror in Madrid and Milan – that if they wanted to survive, they had to do more than others in pushing forward the number of new cases. Citizens started self-isolation and kept their children from school at the end of February, anticipating the government’s decision to a shutdown in March.

Self-discipline, more preparation time, swift implementation of measures, a geographical location at the edge of Europe, political stability and a bit of luck are probably the main reasons for the relatively mild outbreak in Portugal thus far.

Lisbon’s streets are left to joggers and cats, its glorious beaches cordoned off, the economy asphyxiated, border crossings to Spain sealed, schools and universities closed and more than half of the population leaving home only once a week or less for food, medication and exercise.

Nevertheless, the government prepares to gradually reopen services, businesses and commercial establishments with ‘masks on’, as the economy simply cannot afford to wait under lockdown until the coast is clear.
Schools might restart in early May on a trial basis and even go back into operation on May 13, the anniversary of the appearance of the Virgin Mary in Fátima. Se Deus quiser (Inshallah)!

Fique em casa                       Stay at home                (pic Observ, Público, Sapo)

 

 

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Measures

We have to stop moving because this virus can’t move on its own.

All migrants, including asylum seekers with pending applications at immigration (Serviço de Estrangeiros e Fronteiras), will be treated as permanent residents until at least July 1, granting them full access to the National Health Service, welfare benefits, bank accounts, work, and rental contracts during the corona outbreak.

The Council of Ministers explained that the decision was taken ‘to reduce the risks for public health’ when maintaining the current scheduling of appointments at the immigration office, both for the border agents and the migrants and asylum seekers.

The European Commissioner for Home Affairs praised the humane approach of the left-wing government and encouraged other European countries to follow Portugal’s example.
Last year 135,000 immigrants obtained residency. Brazilians and Ukrainians make up the majority, followed by west Africans, British and French.

Portugal declared the State of Emergency on March 19 and recently extended it to April 17 with tough penalties for anyone breaking quarantine.
Suspension of non-essential services happened when only 6 had died from the virus. In Italy, this did not happen before over 1,000 people had died.

Schools in Portugal even closed before any deaths were registered.
In Spain, this happened after 84 people had died. In Italy, it took 366 and in the UK 233 deaths before schools closed.

Portugal is doing comparatively well so far. But the authorities’ advice to stay at home and keep distance has to be maintained to prevent further suffering. Researchers at the Imperial College in London suggested that without these measures deaths in Portugal could reach 70,000.

With the peak of the virus predicted in May, it is becoming increasingly clear that quarantine measures in Portugal probably have to stay in force till the end of June.
All efforts will be wasted if social distancing measures are ended too rapidly.

To finish off with a quote of the famous Dutch footballer Johan Cruijff  ‘ every disadvantage has its advantage.’
The confinement of people at home and the consequent reduction in traffic circulation and economic activities has resulted in 80% less air pollution in Lisbon, a finding also registered in other major European cities.

Stay healthy                   Fique saudável                        (pic Reuters/Público)

 

 

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Covid19

When the number of confirmed coronavirus cases surpassed the 1,000 mark – with six reported deaths – the Portuguese Government announced the State of Emergency on March 19.

Non-essential business and schools closed. People urged to leave their houses only for food, medicines and walking the dog. Remote working from home became the rule. Restaurants locked but allowed to sell take-aways or effect home deliveries. Cultural and leisure institutions shut down. Public services reduced to the ‘essential’. Public transports at reduced capacity. Anyone entering the country from abroad to be quarantined for 14 days.

‘Social distancing’ and ‘protecting the elderly’ have become keywords in the fight against the new virus – Severe Acute Respiratory Syndrome Corona Virus 2 (SARS-CoV-2).
Other countries around the globe have taken similar preventive measures.

In view of the pandemic and to curb fake news, the World Health Organisation (WHO) has given the following advice:
– the new coronavirus can be transmitted in all kind of climates.
– neither cold or hot weather can kill the virus.
– all ages can be infected but the elderly are more vulnerable to severe illness.
– the virus cannot be transmitted through mosquitos.
– hand dryers, a hot bath, UV light, rinsing the nose with saline, eating garlic or taking antibiotics are not effective in killing or preventing infection.
– the best way to protect yourself is by social distancing and washing hands frequently.
– there is no medicine or vaccine available (yet).

The intention of prime minister Antonio Costa is not to close the country down – like in France – even though he has the constitutional support with this State of Emergency to do so. The government, however, will – given the developments in Spain and Italy where the death tolls are the worst in Europe – implement further restrictions if necessary.

Mantenha-se saudável          Stay healthy                (pic Lusa,Público,Reuters)

 

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