“The resolution would not be my solution. Got it with astonishment,” said the report to the questions that you were being placed on the matter by Members in the committee of inquiry into the case Banco Espírito Santo (BES) / Espírito Santo Group (GES) .
And stressed: “I think it’s not a good criterion I would never have taken this decision sends But who can and who should obey…”
Already on the reasons for the bank’s management team to refuse an application for state aid, at different times, José Manuel Silva Holy Spirit spoke in “trauma” within the family because of the BES have already been nationalized once, after the April 25, 1974.
“We never thought in public recapitalization because we had a bank’s capital increase program and thought it was possible to go in this way,” began by saying the former executive director of BES.
Given the insistence on the decision not to resort to a possible public recapitalization earlier this year, the official pointed to the past to justify the position taken.
“It was a question that was always out of our strategy. The BES had already been nationalized once and there was this trauma in the family,” he stressed.
And with this answer finished another day of hearings in the inquiry committee dedicated to BES / GES.
Over 11 hours, with interruption of work for lunch, were heard Manuel Fernando Espírito Santo Silva, president of Rioforte and not former executive director of BES, and José Manuel Espírito Santo Silva, former executive director of the bank that was the subject of public intervention.
The inquiry commission ripped the November 17 and has a period of 120 days, which may possibly be extended.
The work is by order “investigate the practices of previous BES management, the role of external auditors, and the relationship between BES and the set of member institutions of the GES universe, in particular the methods and vehicles used by BES to finance these entities” .
The 03 of last August, the Bank of Portugal took control of BES, after half-yearly losses of 3.6 billion euros, and announced the separation of the institution into two entities: the so-called bad bank (a vehicle that maintains BES name and concentrating the toxic assets and liabilities of BES, as well as shareholders) and the bridge bank that was designated New Bank.
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