With the great Socialist ship,
on the verge of sinking into an ocean
of immeasurable debts
and with rife internal conflict between the Socialist "boys,"
fat rats are starting to abandon the Socialist Ship.
Almerindo Marques,
President of EP (Estradas de Portugal),
a State organization of Portuguese Roads,
has just resigned.
He is in open conflict with
the Finance Minister,
Teixeira dos Santos,
about the public debt of EP,
and the fact that any bank loan
needs the approval of the Minister.
He also complains about the fact that since January,
he had to opt either for his public servant salary
or his bank pension scheme of 190.000 € p/a.
In 2010, EP contracted a debt of 2.2 billion €.
Then there was still the outstanding debt of 660 millions €
which had to be paid in 2010, with EP without any money!
Since 2007 EP could not emit any security bonds ,
according to the new rules but nontheless ,
bonds of 460 million € were emitted.
Spinning out of control was a 580 million €
of deficit.
To top it all, EP was forced to return 300 million €
in VAT to the Tax and Contribution Office.
More of the public companies' managers (Rats)
are expected to abandon the Socialist ship
which is sinking fast.
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