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www.lionsdailynews.com friday, june 24 , 2011

www.lionsdailynews.com friday, june 24 , 2011

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eprofiling<br />

the crisis<br />

when brussels starts sprouting new words, you know the<br />

global economy is in trouble. or do you? Ricardo Costa,<br />

editor-in-chief of expresso, ponders on what advertising can<br />

learn from political creativity<br />

IS THERE any connection between the economic<br />

crisis and creativity? nobody knows for sure, me<br />

included. but one thing i’m certain of: the recession in<br />

which portugal will spend the next few years will not<br />

diminish the creativity or imagination of our advertisers. a<br />

country and a market of our size has this advantage: actually,<br />

we do not know what it is to live without being in a crisis. and<br />

that’s a huge advantage for us over our <strong>com</strong>petitors. creativity,<br />

efficiency, imagination and art do not depend on more or less<br />

money or more or less investment.<br />

does a growing market, eventually, facilitate talent? undoubtedly.<br />

but also some waste. and waste is a luxury that the portuguese<br />

cannot afford to have in the <strong>com</strong>ing years. talent exists<br />

and will be exploited more effectively in <strong>com</strong>ing times.<br />

even politicians have realised it. and when politicians find<br />

things quickly, everyone should stop and think why. even advertisers.<br />

european politics is a fantastic example of creativity. despite the<br />

fact that these days the european project is somehow unhealthy<br />

and the future seems bleak, this crisis proved that politicians are<br />

some of the best advertisers in the world.<br />

for years the word “restructuring” was banned in europe. sovereign<br />

debt restructuring, of course. the word was banned and<br />

the mechanism to do it as well. but as the problem was growing<br />

and restructuring gained momentum; the solution found was<br />

brilliant.<br />

last month, european politicians have started talking about<br />

debt reprofiling. reprofiling? yes. i bet that the reader had never<br />

heard of it before and the reason is simple. because reprofil-<br />

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portugal 55<br />

reprofiling is a great idea. it<br />

avoids the forbidden word and<br />

invents a way to face the market<br />

with redoubled confidence<br />

ricardo costa<br />

ing did not exist in finance or politics. but now it exists and in<br />

practice means the same thing as restructuring.<br />

the word caused a huge buzz and confusion. reuters did<br />

a piece entirely dedicated to reprofiling. economic newspapers<br />

dedicated full pages and tons of articles to discussing the word.<br />

i like this example because reprofiling is a great idea. it avoids<br />

the forbidden word and invents a new way to face the market<br />

with redoubled confidence. it was a super rebranding of the<br />

debt crisis in europe. a great idea.<br />

but, as in everyday advertising campaigns, having a good<br />

idea or theme is not enough. you have to find a way to reach the<br />

consumer in order for them to buy your product or service. it’s<br />

the same with politics. if brussels eurocrats do create and sustain<br />

a policy as innovative as the word they found to define it<br />

(reprofiling), then we’d go from a big idea to a possible sell.<br />

see you all in lisbon in november for eurobest <strong>2011</strong>!!^<br />

FRIDAY, JUNE <strong>24</strong>,<strong>2011</strong>

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