The first -minister said Wednesday that the memorandum of understanding establishes the beginning of May as the deadline to be found a “solution to minimize losses” of retail clients who bought commercial paper of the Holy Spirit Group.
“This memo has a calendar with a very precise goal, which at the beginning of May is found a solution to minimize the losses that unskilled injured suffered in this process,” said Antonio Costa, a statement to journalists without the right questions, in his official residence in Sao Bento.
This afternoon was signed at a ceremony, a three-page memorandum of understanding that commits the Bank of Portugal (represented by Carlos Costa), the Securities Market Commission (represented by Carlos Tavares), the ‘bad bank’ BES (represented by its president Max dos Santos) and the Association of Indignados and Deceived Commercial Paper (represented by the president, Ricardo Ângelo) to launch an “expeditious dialogue” between the four parties in which “all possibilities will be explored (…) to alleviate the economic and financial losses suffered by injured commonly called BES.”
the first- Minister assured that the Government will only “observer” and it will not “take sides for any party involved.”
in addition to Antonio Costa, this ceremony spoke only representative of clients aggrieved, while the governor of the Bank of Portugal, President of the CMVM and the leader of BES have not made any intervention.
the statement released today by the Government states that it is voluntary participation of organizations in this process and does not involve the suspension of lawsuits.
the resolution of the issue of retail customers who bought commercial paper of companies GES Holy Spirit International and strong river, the branches of BES, was taken as a short-term priorities of the socialist executive which claims the urgent need to restore confidence in the Portuguese financial system.
the association representing the injured has admitted several times that is likely to be losses to customers, each of them may not recover everything invested, but it will fight for the “maximum possible”.
at stake are 2,084 subscribers commercial paper claiming 432 million euros.
No comments:
Post a Comment