Smooth Sailing: Exams, Rates and Resignations
14th November 2023
Galamba's Resignation Raises Questions about Political Accountability
In an unexpected twist, Portugal's Minister of Infrastructure, João Galamba, has tendered his resignation amidst a scandal involving investigations into lithium and hydrogen exploration businesses, as well as the creation of the Sines data centre. Galamba's decision follows his identification as a suspect in the "Influencer" operation, prompting scrutiny of political ethics and government integrity.
The political landscape in Portugal finds itself in turmoil, with opposition parties unanimously expressing that Galamba's resignation is long overdue. Critics contend that the minister should have stepped down earlier, particularly in the aftermath of the incidents on April 26 when a computer was seized from the Ministry of Infrastructure.
As Portugal grapples with this political turmoil, questions emerge regarding its impact on the country's governance, particularly in relation to issues like lithium and hydrogen exploration. With the Minister of Infrastructure's resignation, attention now shifts to the upcoming elections and the potential reorganization of the government. The unfolding events underscore the significance of political accountability and the imperative for transparent leadership in preserving the integrity of public office.
Euribor Rates Hold Steady Amid Economic Uncertainty
In the latest economic developments in Portugal, the Euribor rates, specifically the 12-month rate, have maintained their position at 4.040%. This rate, widely used for variable-rate housing loans in the country, has been closely monitored given its impact on the real estate and financial sectors.
The Euribor rates, which experienced an increase on September 29, reaching 4.228%, the highest since November 2008, have drawn attention to the economic landscape in Portugal. Recent data from the Bank of Portugal for September 2023 reveals that the 12-month Euribor represents a significant portion, specifically 38.1%, of the 'stock' of variable-rate permanent home loans. Additionally, the six and three-month Euribor contribute 35.7% and 23.4%, respectively.
Despite concerns and uncertainties, the ECB, in its recent monetary policy meeting on October 26, decided to keep reference interest rates unchanged for the first time since July 21, 2022, after ten consecutive increases. The implications of these decisions on Portugal's economic stability and future borrowing costs remain to be seen.
The Euribor rates, determined by the average rates at which a group of 19 Eurozone banks lends money to each other, reflect the ongoing economic uncertainties and highlight the need for vigilance and adaptability in Portugal's financial strategies. As the nation navigates through these economic waters, stakeholders will be closely monitoring developments, especially in the real estate and banking sectors.
Higher Education Admissions Set for Transformation
In a landmark decision, Portugal's National Commission for Access to Higher Education (CNAES) has unveiled plans to broaden the spectrum of national exams available to prospective higher education candidates. Termed an "exceptional measure," this initiative is scheduled to take effect from the academic year 2025/2026 onwards, ushering in pivotal changes in the realm of university admissions.
Central to this decision is the provision for institutions to introduce up to six new pairs of subjects for admission exams. While this adjustment won't impact students applying for higher education this summer, it signals a prospective paradigm shift in the future landscape of university admissions.
A noteworthy focus of this decision is on Medicine courses, mandating that admission tests for these programs must "necessarily include the areas of Biology, Physics, Mathematics, and Chemistry." Additionally, it grants students in this field the flexibility to undertake up to three tests if deemed essential for a comprehensive evaluation.
This decision responds to longstanding demands from parents and assumes added significance against the backdrop of the COVID-19 pandemic. The exceptional changes instituted during the pandemic underscore the imperative for adaptability in educational policies. As Portugal takes strides to augment the flexibility of its higher education admission process, stakeholders will vigilantly track the implications on students and institutions alike. This move reflects a commitment to forging a more inclusive and adaptable higher education landscape in the country.
Porto/Post/Doc Returns for 10th Edition
From November 20 to 30, 2021, cinema takes centre stage with the Porto/Post/Doc: Film & Media Festival.
Thematic programs, retrospectives of major names in world cinema, films for children and teenagers, discussion spaces, workshops, parties, and events for the film industry accompany the usual competitions (International, Spoken Cinema, New Cinema, and Transmission) in an edition that aims, according to the organizers, to engage with current events, activate thought and action by engaging with various territories, reimagining reality in the various spaces it occupies in the city of Porto.
Over 11 days, this edition takes place at venues such as Rivoli, Passos Manuel, Planetário, and Casa Comum, joined by a neighborhood cinema, Sala Estúdio Perpétuo, and Coliseu AGEAS.
You can find their program here.
