“The idea that the market is able to regulate themselves is bullshit … – Daily News – Lisbon

"The idea that the market is able to regulate themselves is bullshit … – Daily News – Lisbon

The President of the Economic and Social Council (ESC), Silva Peneda, said today that “the idea that the market is able to regulate themselves is bullshit.”

“It has been shown that the market is not able to regulate themselves, so that the State, public authorities, need to be strengthened, “argued Silva Peneda, who spoke this afternoon in Leca da Palmeira, Matosinhos municipality, district of Porto, in the context of an organized debate the District Federation of Port PS on. “Best State – More Democracy”

To him, the “political power was allowed to capture the financial power” and “to dignify that has to demonstrate that puts the financial power in order. “

Silva Peneda said the country can not” wake up in the morning with surprises, as with BES “, whereas the” permanent monitoring of the financial system is something essential ” .

“We have to have a more effective regulatory system, with the awareness that this crisis has led us to a time of transition, which have not yet found the final solutions,” he said.