“Portugal lacks ambition” — says António Horta Osório

Controversial banker António Horta Osório says “Portugal lacks ambition” because its people are satisfied with earning €1,100 to €1,200 a month.

In an interview with Público, the banker said there needs to be a debate at an all-party level to discuss the problem.
The ex-Credit Suisse and former Lloyds Banking Group head who was knighted by the Queen for services to banking, said the necessary conditions for investment in key sectors had to be made and that resources had, above all, to be allocated to the private sector, although the State does have an important role in regulation and in ensuring that there are no abuses or outside interference.
Furthermore, he said tax conditions and investment support should be “targeted, in the sense of looking at where Portugal has comparative advantages”.
The banker thinks that António Costa’s absolute majority in parliament gives the government a competitive advantage since it can “implement policies that it thinks suitable and be responsible for them”.
Nevertheless, António Horta Osório believes there needs be a debate at a national, cross-party and cross-generation level over necessary changes.