Wednesday, January 25, 2017

CGD: Iron rejects the initiative of the right to discuss recapitalisation – TVI24

The President of the Assembly of the Republic rejected the extension of the object of the parliamentary committee survey cgd the process of restructuring and recapitalisation of the bank, as they had requested PSD and CDS-PP.

according To a dispatch to which the agency Lusa had access, Iron, Rodrigues explains that, in the opinion request to the auditor for legal, this considered that there was no foundation to admit of the enlargement of the commission on the “evaluation of the Plan of Restructuring and Recapitalisation of Caixa Geral de Depósitos”.

The President of the Assembly of the Republic thus decided for the non-admission of the request of enlargement of the object of the Parliamentary Inquiry Commission on the Recapitalisation of Caixa Geral de Depósitos and the Management of the Bank, the initiative of the PSD and CDS-PP that was entered in the parliament the 6 of January of this year.

According to the text of the order, the auditor legal considered not to be a ground to allow the deputies to the modification of the object of the inquiry which has been defined in the constitution of the commission “does not seem compatible either with the legal nature of the parliamentary commissions of inquiry, either with the requirement of determinabilidade of the object of parliamentary inquiries, an enlargement of the material competence of these bodies the facts not covered in the object originating of the parliamentary inquiry, yet related”.

The 6 of January, the PSD and the CDS-PP, announced that they wanted to extend the object of the parliamentary commission of inquiry to CGD, suggesting then that the work cover also the process of restructuring and recapitalization database.

“anyone Who wants to prevent this enlargement of the object can only have one goal: hide from the Portuguese that is happening in CGD”, then said the coordinator of the PSD in the commission of inquiry, Hugo Soares, who was speaking at a press conference in parliament, along with the coordinator of the CDS-PP, John Almeida.

in The text in which the extension is requested of the object of the work was referred to by the parties that “developments very important have occurred” since the beginning of the work, and without the “thorough knowledge” of the same jobs would be affected “very relevant.”

John Almeida, the CDS-PP, was then reminded that “this Government already goes to the third administration of the GBD in less than a year” and noted that the work of the commission of inquiry have gone quietly, intending to now question not “acts of management”, but the “initiatives of the shareholder”.

The commission of inquiry to the CGD, took office on July 5 in the Assembly of the Republic, and refers to, for example, on the management of the public bank from the year 2000, addressing the facts that led to the process of the recapitalisation of CGD, which was approved by Brussels – the goal of PSD and CDS is to include the new data of the recapitalization in the context of the work.

The State has completed the first phase of the recapitalisation of the CGD with the increase of the share capital of public bank in 1.445 million euros, said the Ministry of Finance.

in This first phase of the recapitalisation was increased the capital of GBD in 1.445 million euros, through the conversion into capital of 945 million euros (and related interest) of capital instruments contingent liabilities (CoCos) subscribed by the State in 2012 and 500 million euros relating to the transition to the CGD of the shares of the company Parcaixa.

The operation of the recapitalisation of CGD has been agreed in the summer with Brussels, and presented as an achievement of the executive to have been able to negotiate a capital increase without it being considered State aid.


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