Madeirans borrowed €570 million, mostly for buying homes, a 30% increase from 2023. Experts warn that high debt levels could trigger 2008-style risks if property values drop or incomes and interest rates change.
Upon visiting Madeira, the Indian ambassador described his own people as a resource to be used for “three years, five years, seven years, whatever you decide,” before adding: “and then you decide what you want to do with those people eventually.”
Not sure where to spend New Year's Eve in Funchal? Check out these five spots for a spectacular view of the fireworks!
Less than a month remains until the Portuguese presidential elections, and the race is extremely tight, with three main contenders closely matched. This is the story behind their campaigns - and their goals for Portugal.
In his Christmas address, LuĂs Montenegro highlighted Cristiano Ronaldo as a model for Portugal, urging a shift from complacency toward discipline, ambition, and long-term national progress.
Ahead of the Portuguese Presidential Elections on January 18, and following visits by Mendes and Ventura to Madeira, Henrique Gouveia e Melo is scheduled to meet with Madeirans tomorrow.
Wishing everyone a Merry Christmas and a positive, steady start to the New Year ahead!
Madeira’s debt burden has steadily declined since 2012, falling 19.8%, with the region’s debt-to-GDP ratio now at 61.2% - considerably below Portugal’s 97.6%.
Hikers in Madeira protest new access limits on all percursos pedestres, but President Albuquerque insists he will not reverse the legislation, saying: "they can contest as much as they want".
A busy market and cautious spending amid high prices are shaping Christmas shopping at Funchal’s Mercado dos Lavradores.
Street vendors in Funchal say Christmas pine sales are slowing, as higher costs and changing habits reduce demand for traditional greenery.