Interesting article, thanks for bringing it.
Whether Spain or Portugal are ruled by left or right, they will need mining and the gold. The left wing of Spain is very pro-mining as it brings money and jobs to Huelva. China the communist leader is pro-gold and puts that even before politics as do most country's political parties when in power.
The statesmanship the author pleads for was not found in those counties that are listed, and have fallen into disrepair and disrepute. In Germany where there exists a work ethic and fiscal responsibility, the people are tire of carrying the slower, lazy ones on their backs. Such things are wars made of, if left to fester.
Those who study history always shook their heads at the idea of a common currency for the EU. I believe it was doomed before it began. The question is whether the coming storm will be good or bad for the POG over the long run. Certainly there will be a lot of volatility.
It is true that Panama is extremely strong from a financial perspective and the only risk is that it is tied to the dollar. Elite Panamanians of all political stripes are invested in Petaquilla as witnessed by the history of moving forward no matter who held public office.
The fact that we are closely tied to the Catholic Church in all three countries is a great plus also. Let us all be thankful that we are not in the trouble spots of the Middle East, Africa, or any of the Arab or Persian areas of the world. Fasten your seat belt!
In Panama the minimum wage is in the papers this morning:
In November is the deadline for employers and employees to agree on the new minimum wage that should govern the next year and that will become the highest in Latin America, announced Deputy Minister of Labour, Darius Falcon.
In that month should complete the period of technical papers from both sides, served on the Minimum Wage Commission which is also part of the Ministry of Labour.
The Commission evaluates the effects of productivity, economic growth and investment capacity of businesses to define the increase in monthly income, in order to avoid a negative impact on the purchasing power of workers, said Vice Minister Falcon , who chairs the negotiating table.
With representatives from business and the working class, this morning we examined the feasibility of increasing the minimum payments that are now in $ 490 for zone 1, and $ 432 in zone 2.
"With this administration we have simplicity, and although we question the 22 and 23% increase in basic goods, work in parallel to set the minimum wage hike," said the official.
The deputy minister said it would be irresponsible to say at this time what percentage to be applied, however, panamaamerica.com.pa reiterated the statement made by the President of the Republic, Ricardo Martinelli of Panama that will from next year with the highest minimum wage in the region.
Since many work a 44 hour week this may range from about $2,25/hr. to $2.50/hr. The indians in the west sometime only received $2.00 a day in their environment. They are looking at their cousins driving Toyotas and living in houses with electricity rethinking their loyalty to the water god this morning. Of course PTQ and Minera-Panama pay their average worker well above the base and they are some of the highest paid groups in the country. The locals in Cocle are well aware of our contributions to their economy and hence the huge pro-mining demonstrations held there last year.
