“We can be under no illusions: if there is a recession in Germany, the impact will be significant across Europe”, he declared, stressing that the commitment to the tourism sector at a national level is crucial.

António Costa Silva was speaking in Funchal, within the scope of the inauguration ceremony of the Madeira delegation of SEDES – Association for Economic and Social Development, in which he was one of the speakers, on the central theme "The role of Madeira in the national economy".

“Tourism is a great example that diversification can eventually fill gaps that may exist from Germany or the United Kingdom”, he said, highlighting the 30 percent growth registered this year in the number of tourists from the United States.

“We are a country that, through its own history, is connected to all the continents of the world. If we work all these markets in a consistent way, it is possible to overcome, or at least minimise, some of that impact”, he reinforced.

He added that the Ministry of Economy “should not disturb” the business fabric, but should be “linked to all sectors” to identify problems and develop a set of policies that “makes the money arrive as soon as possible”.