“Salgado tried all the tricks to save his empire, but … – Expresso

"Salgado tried all the tricks to save his empire, but … – Expresso

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The Fall of the Holy Spirit family and the collapse Banco Espírito Santo (BES) had already made news in the international press and this month reached even the cover of Euromoney magazine. “The fall of a dynasty – the last days of Ricardo Salgado and Banco Espírito Santo” is the cover story of the October issue of the magazine, which is one of the references in the financial markets

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“Ricardo Salgado tried every trick I knew to save his empire, but found that the Portuguese regime could not – or would not – salvation it, “the magazine writes, noting that last summer was different from the usual in Lisbon

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A report describes an atmosphere of excitement in the Portuguese capital during the summer and also the “celebration” with the “dramatic drop in the closest thing to an oligarch who was in Portugal, Ricardo Espírito Santo Silva Salgado, and with it the disappearance of bank that takes the name of his family celebrated across 20 countries “

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Euromoney writes that bankers in Lisbon say that the disappearance of BES is a time of watershed for the country: the turning point in the old Portugal became the new Europe. And cites a banker: “They are special days This has been the most important and best thing that happened to us in years.”

<- - begin st_tag_p!> class = “newsp”> “A scandal that forced Portugal to one point dangerously close to systemic collapse.” That’s how the report sorts the discovery of values ​​”that seem to be missing in the group accounts of the Holy Spirit”, a process that culminated in the intervention of the Bank of Portugal in BES, which led to the separation into good bank and bad bank, with the creation of the New Bank

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“In elite circles in Lisbon, the collapse of Salgado is mentioned as the Madoff of Portugal, “reads the article, stating that” as allegations of fraud, tax evasion and money laundering redemoinham around Salgado and his now defunct empire, there are few tears on his sudden removal of Portuguese banking sector “

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” They had tentacles and conflicts everywhere, in large companies, in . policy, public administration were very close to the government, any government, and thus were in the market as the bank system, “said a national banker quoted by Euromoney

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The magazine quotes another investment banker Portuguese. “The end of the Holy Spirit Group is the true restructuring of the Portuguese economy – is what the troika did not.”

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Noting that Salgado was known as DDT, “Owner of It All,” the report quotes a competitor banker:. “They have contacts, they had friends and they knew all their secrets (…) They always had some . lever to pull to get a deal they knew where the skeletons were buried because they had helped to bury them “

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Referring to the importance that the “war” with Pedro Queiroz Pereira played at the beginning of the end of Ricardo Salgado – Queiroz Pereira is presented as winner of the clash – the Euromoney noted that, after the fall, “Salgado was seen in the glorious Palace Hotel in Cascais, alone, with the exception of bodyguards with Israeli training to protect him, not because he fears reprisals from Portuguese who went bankrupt because of him, but of Angolans who have lost interest in set of four billion euros in the fall of BES “

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Euromoney states that tried to talk to Ricardo Salgado, but without success.

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