Manuela Ferreira Leite calls for “consideration” in any nationalization of the New Bank – Jornal de Negócios – Portugal

The New Bank still has time to be sold. Therefore, the option to nationalize the immediate heir to the financial institution Banco Espírito Santo should not be chosen according to Manuela Ferreira Leite. But the bank’s maintenance in the public sphere is something that should be considered, even by consolidation movements that are underway in Europe, admits the former Minister of Finance.

There is a date – July 2017 – to try to sell the New Bank and this gives time for an “analysis”. And this is the “perspective” current. “There’s still a long time,” noted the former Minister of Finance in the TVI program “Politics Even”, although stressed that it is not good to have a date fixed by may precipitate a devaluation of the bank.

There thus a moment of “enough waiting” that will tell if you can “sell the bank on beneficial conditions, not only in financial terms [price] but in terms of the entire financial system.” The former minister believes that there should be no precipitations, defended the former governor.

“nationalize the bank right now? I do not think there is such urgency. I think there is time to ponder, is a situation that must be considered. Consideration should be given an overview of what we want for the financial system, “said Manuela Ferreira Leite in response to PCP’s proposal to nationalize the New Bank and the PS position, that is a matter to be analyzed.

it is important “not to lose the sovereignty”

in the usual space to comment on TVI, he argues that “it is likely” that the financial system will promote mergers and, in scope, a care should be taken to “not lose sovereignty” – but not sovereignty “that is in the treaties”

“I am part of those who fear not nationalization. – in the sense of not being national banks with national capital – of our country “, said the former Minister of PSD governments. “It is necessary to a country that wants to grow and develop to have a national banking, in order to take national capital to be able to force the financial system”, justified.

“It’s a concern I have.” Manuela Ferreira Leite gave an example: Spain. Portugal has trade relations with the neighboring country also has many competitors. The former minister “had little confidence that a Spanish institution,” if the major bank in Portugal, chose a Portuguese company, at the expense of their nationality, if he had to make “strategic options”.

the New Bank nationalization theme again be on the table, with the considerations made by Vítor Bento who said this could help that there was a great national bank, to the detriment of a foreigner to lead the process of concentration estra who believes in progress. However, PCP – which has long advocated the nationalization – has proposed the bank maintaining the state perimeter, the BE also welcomes. The PS did not close the door, speaking in the analysis of the operation, at a time when the Bank of Portugal to have relaunched the process of sale of the financial institution, after the first international competition failure.

The bank workers chaired by Eduardo da Cunha Stock also advocate nationalization, to prevent the collective dismissal of 500 workers is being considered.

At this point, it is still uncertain the extent of costs of a possible nationalization of the New Bank, which has already received 3.9 billion euros of Portuguese Treasury when its constitution. It is true that the bank’s maintenance in the state sphere violates European commitments.