Vice-Chancellor, Professor Anton Muscatelli,
Ladies and Gentlemen,

I wish to start by thanking Professor Andrew Walker, for his kind and generous words. I equally wish to thank Heriot-Watt University for its warm hospitality.

It is a great honour for me to be awarded the Honorary Degree of Doctor of Letters by Heriot-Watt University – one of the most prestigious in the United Kingdom.

And it is with real pleasure that I come back to Edinburgh, one of the most beautiful cities in Europe.

During our stay in York, when studying for my PhD in Economy, my wife and I were greatly drawn to Scotland’s landscape and its historical and cultural wealth.

Together with our two children, we had the opportunity to visit cities, towns and villages, mountains, lochs and woods, castles, kirks and monasteries. Scotland and Edinburgh are a part of the best memories we collected when living in York.

But Edinburgh is also a part of my political memories.

In the first half of 1992, as Portugal’s Prime Minister, I carried out the duties of President of the European Council and, as such, presided at the signature of the Maastricht Treaty, but also had to deal with the negative implications of the victory of the “No” vote in the Danish referendum.

It was much easier for me to achieve the agreement of the then 12 Member States to the opening of negotiations for the accession of Austria, Finland and Sweden.

The Portuguese Presidency of the European Union was followed by that of the United Kingdom. John Major was then the Prime Minister. And it was here, in Edinburgh, in the Palace of Holy Roodhouse, that was held one of the most difficult of the 29 European Summits in which I took part. The European Council meeting took 10 hours more than had been envisaged. But, just as in a fairy tale, it had a happy ending.

The framework for the 1993-99 budget was approved and the conditions for Denmark to carry out a new referendum - this time with a victory for the “Yes” - were set.

I recall that the official dinner was held on board the royal yacht Britannia, hosted by Her Majesty the Queen. The Prince and Princess of Wales, who were also present, had visited Portugal in 1987, when we celebrated the 600th anniversary of the Treaty of Windsor between Portugal and England, the oldest world Alliance which still remains in force.

I often recall those days, to demonstrate to the more pessimistic that difficulties are not new and that these have always been ably overcome by the European political leaders.

Vice-Chancellor,
Ladies and Gentlemen,

If, after securing the position of a Professor in Portuguese Universities I became Minister of Finance and, for 10 years, Prime Minister of my country, and if I am here today, as President of the Portuguese Republic, to be awarded this honorary degree, all this is owed to the investment that my family and I made in my education.

In my path towards the furthering of knowledge in the field of economics and, in particular, in the preparation of my doctoral dissertation in the University of York, I had the privilege to benefit from the guidance of a notable and magnificent Professor, also connected to this University, Sir Alan Peacock, who is with us here today.

I am particularly pleased to receive this Honorary Degree in the presence of hundreds of MBA graduands. My course of life is the example of the high return of investment in human capital. One day, perhaps, it will be your turn to speak from this podium. I am certain that, such as I did, you will recall your route and recognize that the effort was worth your while.

I wish you all the greatest personal and professional success and once again express my thanks for the distinction that the University Senate saw fit to award me.