The Euro Area's Tightrope Walk: Debt and Competitiveness in Italy and Spain

- Competitiveness adjustment in struggling southern euro-area members requires persistently lower inflation than in major trading partners, but low inflation worsens public debt sustainability. When average euro-area inflation undershoots the two percent target, the conflict between intra-euro relative price adjustment and debt sustainability is more severe. - In our baseline scenario, the projected public debt ratio reduction in Italy and Spain is too slow and does not meet the European fiscal rule. Debt projections are very sensitive to underlying assumptions and even small negative deviations from GDP growth, inflation and budget surplus assumptions can easily result in a runaway debt trajectory. - The case for a greater than five percent of GDP primary budget surplus is very weak. Beyond vitally important structural reforms, the top priority is to ensure that euro-area inflation does not undershoot the two percent target, which requires national policy actions and more accommodative monetary policy. The latter would weaken the euro exchange rate, thereby facilitating further intra-euro adjustment. More effective policies are needed to foster growth. But if all else fails, the European Central Bank’s Outright Monetary Transactions could reduce borrowing costs.

Women demonstrate in support of the Three Marias of Portugal [and Portuguese women]

General note: Title and date provided by Bettye Lane.

Women demonstrate in support of the Three Marias of Portugal [and Portuguese women]

General note: Title and date provided by Bettye Lane.

Women demonstrate in support of the "Three Marias of Portugal" (and Portuguese women)

General note: Title and date provided by Bettye Lane.

Women demonstrate in support of the Three Marias of Portugal [and Portuguese women]

General note: Title and date provided by Bettye Lane.

Impact of financial crisis on earnings management in listed companies of Portugal and UK

Firm’s financial information is essential to stakeholders’ decision making. Although not always financial statements show the firm’s real image. This study examines listed firms from Portugal and UK. Firms have different purposes to manipulate earnings: some strive for influencing investors’ perception about a particular company, some try to provide better position for gaining finance from credit institutions or paying less tax to tax authorities. Usually, this behaviour is induced when firms have financial problems. Consequently, the study also aims to see the impact of financial crisis on earnings management. We try to answer question how does extent of firms’ involvement in earnings management change when the world undergoes financial crisis. Furthermore, we also compare two countries with different legal forces in terms of quality of accounting to see the main differences. We used a panel data methodology to analyse financial data from 2004 till 2014 of listed firms from Portugal and UK. Beneish (1999) model was applied to categorize manipulator and non-manipulator firms. Analysing accounting information according to Beneish’s ratios, findings suggest that financial crisis had certain impact on firms’ tendency to manipulate financial results in UK although it is not statistically significant. Moreover, besides the differences between Portugal and UK, results contradict the common view of legal systems’ quality, as UK firms tend to apply more accounting techniques for manipulation than the Portuguese ones. Our main results also confirm that some UK firms manipulate ratios of receivables’ days, asset quality index, depreciation index, leverage, sales and general administrative expenses whereas Portuguese firms manipulate only receivables’ days. Finally, we also find that the main reason to manipulate results is not to influence the cost of obtained funds neither to minimize tax burden since net profit does not explain the ratios used in the Beneish model. Results suggest that the main concern to listed firms manipulate results is to influence financial investors perception.

Making a difference? Public service broadcasting, distinctiveness and children’s provision in Italy and Spain

This article evaluates the performance of public service broadcasters in the area of children’s television in Italy and Spain. It asks: how distinctive is the output of public service children’s channels? As core area of public service provision, children’s television represents an important testing ground for wider debates about the distinctiveness of public service broadcasting in a digital age. Public broadcasters in Southern Europe have historically been more vulnerable to market pressure than their counterparts in continental and Northern Europe, and this is believed to have impacted negatively on their ability to maintain a distinctive public service profile. After engaging with debates on distinctiveness in order to develop a framework for the analysis, the article presents the results of a two-week analysis of the TV schedules of the main children’s channels operating in the two countries. It finds evidence that in both countries the output of public service children’s channels is distinctive to a degree, but also that there are important gaps in public service provision as well as some significant differences between the public service children’s channels analysed.

Migrant domestic workers, vulnerability and the law: immigration and employment laws in Cyprus and Spain

The intersection of gender, welfare and immigration regimes has been one of the main focus of a rich scholarship on paid domestic work in Europe. This article brings into the discussion the nexus of employment and immigration law regimes to reflect on the role of legal regulation in structuring and reducing the vulnerability of domestic workers. I analyse this nexus by looking at the cases of Cyprus and Spain, two states falling under the cluster of Southern Mediterranean welfare regimes, that share certain characteristics in terms of immigration regimes, but have substantially different employment law regulation models. The first part sketches the debate on the employment law regulation of domestic work. The second part starts by giving an overview of the immigration regimes of Cyprus and Spain in relation to migrant domestic workers and then proceeds to analyse the two countries’ models and substance of employment law regulation in domestic work. The comparison of these two divergent approaches informs the debate on how the legal regulation of domestic work should be best structured. In Spain there have been recent dynamic legislative changes in the employment law regulation of domestic work. The final part of the article traces these changes and reflects on why such processes have not taken place in Cyprus.

Making personalised nutrition the easy choice: Creating policies to break down the barriers and reap the benefits

Personalised diets based on people’s existing food choices, and/or phenotypic, and/or genetic information hold potential to improve public dietary-related health. The aim of this analysis, therefore, has been to examine the degree to which factors which determine uptake of personalised nutrition vary between EU countries to better target policies to encourage uptake, and optimise the health benefits of personalised nutrition technology. A questionnaire developed from previous qualitative research was used to survey nationally representative samples from 9 EU countries (N = 9381). Perceived barriers to the uptake of personalised nutrition comprised three factors (data protection; the eating context; and, societal acceptance). Trust in sources of information comprised four factors (commerce and media; practitioners; government; family and, friends). Benefits comprised a single factor. Analysis of Variance (ANOVA) was employed to compare differences in responses between the United Kingdom; Ireland; Portugal; Poland; Norway; the Netherlands; Germany; and, Spain. The results indicated that respondents in Greece, Poland, Ireland, Portugal and Spain, rated the benefits of personalised nutrition highest, suggesting a particular readiness in these countries to adopt personalised nutrition interventions. Greek participants were more likely to perceive the social context of eating as a barrier to adoption of personalised nutrition, implying a need for support in negotiating social situations while on a prescribed diet. Those in Spain, Germany, Portugal and Poland scored highest on perceived barriers related to data protection. Government was more trusted than commerce to deliver and provide information on personalised nutrition overall. This was particularly the case in Ireland, Portugal and Greece, indicating an imperative to build trust, particularly in the ability of commercial service providers to deliver personalised dietary regimes effectively in these countries. These findings, obtained from a nationally representative sample of EU citizens, imply that a parallel, integrated, public-private delivery system would capture the needs of most potential consumers.

Online marketing internationally: Bizpartner and the parallel cases of Portugal and Greece

This report is the result of the curricular internship carried out in Bizpartner, a company from Slovakia, for the Master’s degree in Languages and Business Relations. The objective of this report is to present the activities developed during the internship, as well as a brief study of how Bizpartner internationalizes and the different results obtained from Portugal, Greece and the United Kingdom. There is a contextualization of Slovakia, Bizpartner and Internationalization, followed by the specific cases of Portugal, Greece and the United Kingdom. Finally, there is a reflection on all the work done, attempting to relate the internship with the knowledge acquired during the course.

Collection of waste batteries in Portugal and Brazil

Selected papers from the 3rd Edition of the International Conference on Wastes: Solutions, Treatments and Opportunities

Stratigraphic micropalaeontology of the Upper Jurassic Neritic formations of Portugal and its Tethyan context. I - The Algarve Basin

Publicações inserida na colecção Memórias Geológicas, nº 35

Antioxidant profile of Stevia rebaudiana Bertoni cultivated in Portugal and submitted to different conservation conditions

The demand for natural sweeteners has been gaining more and more importance due to the great controversy associated with the use of some synthetic sweeteners as cyclamates, aspartame and acesulfame-K. The steviol glycosides (E 960) are a group of natural sweeteners of generalized use; these compounds are obtained from Stevia rebaudiana Bertoni, a sweet plant native from South America (Carocho et al., 2015). However, Stevia rebaudiana Bertoni may have other uses to be exploited, in particular due to its antioxidant capacity. This plant is already produced in Portugal but it is important to evaluate if the plant chemical composition is maintained regardless of culture conditions. Therefore, in this study, stevia samples were cultivated in Braganca (northeastern of Portugal) in a field trial with defined culture conditions. After harvesting, the plants were submitted to two different treatments: kept fresh by freezing (-20°C) and oven-dried (30°C). The antioxidant profile of the samples was studied through evaluation of free radicals scavenging activity, reducing power, phenolic compounds (HPLC-DAD-ESI/MS), tocopherols (HPLC-fluorescence) and free sugars (HPLC-RI). Significant differences were observed: while oven-dried samples showed the highest antioxidant activity and phenolic compounds concentration (mainly 5-O-caffeoylquinic acid and 3,5-O-dicaffeoylquinic acid), the frozen fresh samples had the highest values of total tocopherols and total sugars. These results confirm that the plants grown in Bragança have excellent bioactive secondary metabolites responsible for the observed antioxidant capacity.

Newly qualified teachers’ needs of support for professional competences in four European countries: Finland, the United Kingdom, Portugal, and Belgium

The first few years in the teaching profession are usually demanding. Although initial teacher education forms an essential foundation for teachers’ work, it cannot fully prepare new teachers for the complexities of working life. This study focuses on investigating the need for professional development support among newly qualified teachers to determine what their professional learning needs are and how these needs differ among teachers from four different countries: Finland, the United Kingdom (England), Portugal and Belgium (Flanders). The research data was collected via a questionnaire from 314 teachers, each with less than five years of teaching experience, and both closed and open-ended questions were included. The quantitative data was analysed using descriptive statistics and factor analysis to identify the latent variables associated with their needs. Answers to the open-ended questions were used to gain deeper insight into the newly qualified teachers’ situation. The results indicate that new teachers need support, especially regarding conflict situations and in differentiating their teaching. In addition, when analysing the profiles of eight support-need latent variables, all of the teachers in the different countries viewed supporting students’ holistic development as the most important area. Although the results of this study cannot be generalised, they provide an important overview of new teachers’ learning needs that should be taken into account when planning and organising support for them. (DIPF/Orig.)

Engagement and labour stress in nursing

Engagement is a useful concept in the profession of nursing as it focuses on the positive dimension of human behaviour and visualizes the work context as a positive situation. Evaluate the stress and engagement levels on Portuguese and Spanish nurses and analyse the factors related to the stress and engagement levels in the two sample groups. Comparative exploratory study in a quantitative paradigm. Sample of 867 nurses (504 Portuguese, 363 Spanish), female 83.6% (78.6% Portugal, 90.6% Spain) and average age of 37. Portuguese (77.2%) and Spanish nurses (39.4%), work on average 40 hours per week. 60.6% and 57.7% of the Spanish and Portuguese respectively exercise their profession for 10 years. Sociodemographic questionnaire, the Pamela Gray-Toft’s Nursing Stress Scale (1981) and Schaufeli & Bakker’s Utrecht Work Engagement Scale (2003) were used. In what concerns Engagement there are statistically signiicant differences in the three dimensions, the p-value of the t-Student test were under 5%, highlighting the Spanish nurses for being more vigorous, dedicated and absorbed by their work: vigour, dedication and absorption. The sample of Portuguese nurses experience higher stress levels although the difference with Spanish nurses isn’t statistically signiicant. There are statistically signiicant differences between Portugal and Spain in “Lack of help from colleagues” and also in the psychological domain in general. The Spanish nurses feel more vigorous, dedicated and absorbed by their work. The Portuguese nurses perceive more psychological stress and mention having less help from colleagues.