Sunday, August 2, 2015

If BES: 12 months, 50 sentences – Vision

“Banco Espírito Santo has been supervised by the Bank of Portugal and does not deserve us, at this time, no arrests.”

– Pedro Passos Coelho, Prime Minister 07/05/2014

“[BES case] is an issue that will have economic implications, but not for the State to be addressing the problems that private may have with their contracts , investors, customers It is not the function of the State “

– Pedro Passos Coelho, 07/05/2014

“.. In this case [BES ], the information I got from the Governor of the Bank of Portugal are in order to reduce my concerns “

-. Seguro, 07/09/2014

“The BES’s solvency position is sound and has been significantly enhanced with the recent capital increase.”

– Notice of Banco de Portugal, 07/10/2014

“The Portuguese taxpayers will not be called to support private losses.”

– Pedro Passos Coelho, 07/11/2014

“The BES holds a sufficient amount of capital to accommodate any negative impacts.”

– Carlos Costa, Governor of the Bank of Portugal, 07/11/2014

“At this stage, my priority at BES is to regain market confidence, redouble our efforts to approach our teams, customers, investors and regulators, putting an end to speculation and paving the way for a new chapter “

-. Vítor Bento, the new president of the Executive Committee of BES, in a message sent to employees of the bank, 15/07/2014

“The BES is capitalized, has a cushion of capital to cover the risks that are faced, it has to do with the evolution of non-financial family area. (…) The depositors in the BES can be reassured “

– Carlos Costa, TVI, 07/15/2014

“. [The Bank of Portugal], as supervisory authority, has been acting very well to preserve the stability and soundness [of the Portuguese banking system] “

-. Cavaco Silva, President of the Republic, 21 -07-2014

“If justice is equal for all? Allow me the outburst. Sometimes I have this doubt. (…) The judicial system allows those who have more economic power able to delay the time decisions “

-. Carlos Tavares, 24/07/2014

“There is no reason to compromise the security of the funds entrusted to the BES, by which its depositors can rest assured.”

– Notice of Banco de Portugal, 25-07- 2014

“exceptional nature of factors that occurred during the current year determined the accounting for losses, impairments and contingencies which reflected a loss of 3.5773 billion euros.”

– Notice of Banco Espírito Santo sent to the Portuguese Securities Market Commission, 07/30/2014

“Are not these the information I had, including the Governor the Bank of Portugal. The Portuguese can not be more negative surprises from the financial system and the Portuguese banking system “

-. Seguro, 07/30/2014

“To the extent that the description of some of the contributions to these results [for the first half] seems to indicate the existence of any violations of legal norms, such evidence will be properly investigated and, if appropriate, reported to the competent authorities for legally intended purpose “

– Vítor Bento, 30.7.2014

“. The Bank of Portugal shall take all measures that are required [under the crisis of Banco Espírito Santo] in order to ensure financial stability “

– Pedro Passos Coelho, 01/08/2014

“. The group Holy Spirit, through the non-financial entities not subject to supervision by Banco de Portugal, developed a fraudulent financing scheme between the group companies “

-. Carlos Costa, during the presentation of solution to the Banco Espírito Santo, 08/03/2014

“For our customers and employees only one thing has changed – your bank is now stronger and more secure than before. The uncertainties threatening the institution in recent times have been removed “

-. Vítor Bento, president of the Executive Committee of Banco Espírito Santo, in a statement, 08/03/2014

“[The solution announced by the Bank of Portugal for the BES] is one that offers (…) greater assurance that the Portuguese taxpayers will not be called to bear the losses in this case, meet at less mismanagement that was exercised by BES ‘

– Pedro Passos Coelho, 04/08/2014

“. The result of the nationalization of BPN was that the taxpayer has paid billions of euros. I think this [nationalize BES] would be a tragedy. Is moving to nationalize the taxpayer to injury invoice “

– Paulo Portas, deputy prime minister, 05/08/2014

“. If capital [New Bank] resulted essentially from a state loan, for now, are the taxpayers who are bearing the investment. The question is whether the recovering or not, “

-. António Costa, candidate in the primary PS, Vision, 07/08/2014

“The Portuguese authorities acted quickly and effectively [in the case of BES]. Avoided a possible systemic crisis, restrained the effects of contagion [in the financial sector in and out of Portugal] “

-. Mario Draghi, President of the European Central Bank, 07/08/2014

“The bank today is safer, stronger than it was on Friday. Depositors are protected, they can continue to trust the New Bank “

-. Vítor Bento, CEO of the New Bank, SIC, 08/07/2014

“How can [the Bank of Portugal] can be taken by surprise when we just leave the BPN case? We thought that the regulator had prevented … but, after all, between BES and LBW cases do not appear to have been evolving “

-. Louis Christmas Marques, president of the Portuguese Association of Users and Consumers and Financial Services products – Sefin, Lusa, 08/08/2014

“I will fight for the honor and dignity, my and my family.”

– Ricardo Salgado, Economic Daily, 08/14/2014

“[The President] hopes that once the government becomes aware of relevant facts [about BES] be sure to [her] communicating. I hope that it happened like that -. Because it is what results from the Constitution “

– Cavaco Silva, President of the Republic, 07/09/2014

” I am sure that the President of the Republic had full opportunity to put all the issues pertinent to clarify that he understood what was necessary on these matters and that no relevant information [about BES] was hidden course the President of the Republic. “

– Pedro Passos Coelho, 09/10/2014

“There is no friction between the President and the Government, nor between the President and the Banco de Portugal [regarding the case BES] “

– Cavaco Silva, 12/09/2014

.” When he [Ricardo Salgado] speak, and will speak, things will get otherwise. At first it was all banditry, but now the Portuguese have realized that it is not so “

-. Mario Soares, former President of the Republic, RTP, 09/13/2014

“We understand now be opportune handing over to another management team more aligned with the project chosen by the shareholder.”

– Vítor Bento, an internal communication to employees and New customers of the Bank to announce the withdrawal from the New Bank, 15/09/2014

“Our mandate is clear: we are here to recover and create value for our institution and ensure that we return to occupy the leading position that the market recognizes the “

-. Stock Eduardo da Cunha, new president of the New Bank, 09/18/2014

“I will not deny that what happened [BES] was a real earthquake. Now we must look forward to “

– José Maria Ricciardi, family member Holy Spirit, 10/05/2014

.” I’ve never given instructions to anyone to hide the [BES] group liabilities “

– Ricardo Salgado, 09/12/2014

“. The leopard dies when leaves his skin. And when a man dies leaves his reputation “

– Ricardo Salgado, 09/12/2014

.” I’ve never been, never thought to own it all. It was an assignment to harm me “

– Ricardo Salgado, 09/12/2014

“. There was a timely decision by the Bank of Portugal [on the BES], which had the full support of the Government. I am convinced, since then, it was the best decision for the country “

– Pedro Passos Coelho, 12/10/2014

“. Who It is that Portugal did not trust dr. Ricardo Salgado “

– José Manuel Espírito Santo Silva, former executive director of BES, 12/16/2014

“? [Ricardo Salgado] was very alarmed by the situation in the bank. He gave me to understand that I wanted to ask for help to the government wanted more time and a special program of the Portuguese Government. I encouraged him to talk to the government and he said he would talk to the prime minister “

-. Barroso, former president of the European Commission, 17/12/2014

“I noticed that some of you [journalists] and also some politicians said and wrote that the President made any statement on the BES. It’s a lie, it is a lie. Korea made three statements about the Bank of Portugal and foremost “

– Cavaco Silva, 01/30/2015

.” I do not know how much it costs Novo Banco, but as we say back home, worth what we give for it “

-. Stock da Cunha, president of Novo Banco, 09/03/2015

“[The biggest obstacle of the parliamentary committee of inquiry into the management of BES and GES are] sometimes lacks the truth sometimes notorious (…), these small, medium sized or big lies.”

– Fernando Negrao, president of the inquiry commission to the BES management and the GES, Antena 1 / Economic Journal, 09/03/2015

“I heard speak of idiosyncratic financial difficulties in the GES [Grupo Espírito Santo] in late 2013. In concrete terms, heard later, of BES exhibition implications [BES] to GES by the international trade press. “

– Vitor Gaspar, former Minister of Finance, in its written replies to the inquiry committee to BES case / GES, 03/10/2015

“It is truly unacceptable that an interested party, the Banco de Portugal, walk to reveal, drop by drop, elements so there is a judgment (about me) “

-. Ricardo Salgado 19/03/2015

“Volatility actions and drain deposits. It was these circumstances that dictated the end of BES ‘

– Ricardo Salgado, 19/03/2015

“. Despite all the errors that may have committed over a lifetime of work, one thing I am sure:. never, at any time, I had intended to harm the interests of BES, its customers, employees and shareholders “

– Ricardo Salgado, 03/19/2015

“The Portuguese state was bankrupt, the GES helped a lot. The GES helped several Portuguese private groups. Former Finance Minister Vitor Gaspar thanked me twice calls the support that the GES was to give the country “

-. Ricardo Salgado, 03/19/2015

“At the weekend I called the thief. I did not steal anything to anyone. The Bank of Portugal did not steal anything to anyone “

– Carlos Costa, 24/03/2015

“. If you open a Pandora’s box, it has no limits, because no one knows what the value of the commercial paper walking around outside. Will be the taxpayers to save the family Holy Spirit “

– Carlos Costa, 03/24/2015

“. It is essential that any decision taken is with full respect for legality. But still we ended up having to compensate Ricardo Salgado and Goldman Sachs’

-. Maria Luís Albuquerque, Finance Minister 03/25/2015

“[It's] likely [that Ricardo Salgado has] been involved in the concealment of the Holy Spirit International accounts since 2008.”

– Pedro Saraiva, PSD deputy, in the presentation of the preliminary report parliamentary commission of inquiry to managing BES and Espírito Santo Group, 16/04/2015

“A perhaps more assertive attitude of the Bank of Portugal, although with other risks, could have led to the anticipation and possible mitigation of impacts [of BES crisis] “

-. Pedro Saraiva, in the preliminary report of the Parliamentary Committee of Inquiry into BES case / GES, 16/04/2015

“The intervention of the Bank of Portugal proved to be perhaps late, especially for the elimination of sources of potential conflicts of interest, and inefficient in terms of determination and ensuring compliance with screening measures imposed on the BES “

– Final report of the inquiry committee to the BES management and the Espírito Santo Group, 04/29/2015

“. The systematic and recurrent occurrence of passive concealment practices (…) hardly conforms with the possible occurrence of mere accounting errors, should be a timely and promptly corrected definition “

-. Report end of the inquiry committee to the BES management and the Espírito Santo Group, 04/29/2015

“We have to recognize that the resolution of BES was successful. There was no breach of deposits, there was no breach of the financing of the economy “

– Carlos Costa, 04/05/2015

“. BES was like a minefield, crashed everywhere “

-. Vítor Bento, former president of BES Express, 09/05/2015

“In the case of BES country owes [Carlos Costa] the fact that he did not have pretended he did not see what was going on and have intervened in order to safeguard financial stability.”

– Pedro Passos Coelho, Sun, 04/15/2015

“As is well known, the Bank of Portugal does not meet the impartiality and independence position to make any judgment on the case BES . “

– Ricardo Salgado said in a statement, 23/05/2015

” It is important that the buyer’s bank [New Bank] do not let fall into the song of the Bank of Portugal, because unfortunately already been repeatedly deceived by the Bank of Portugal

-. Ricardo Angelo, president of the Association of Indignados and Deceived Commercial BES Paper] 05 -06-2015

“It’s not the street that solves a problem [as the injured commercial paper BES].”

– Carlos Costa, 12/06/2015

“The Bank of Portugal has acted in this case as a kind of COPCON of modern times, declaring a toxic nickname and everything else that felt like it, erasing the facades the buildings a brand with over 140 years of existence “

-. Ricardo Salgado, former chairman of BES, in its response to the first offense proceedings of the Bank of Portugal , 07/16/2015

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