Former Finance Minister admits that the European Commission did not put an ultimatum to solve the Banif problem but pressed the government that sense. electoral calendar “no influence”.
The former Finance Minister assured the Parliamentary Commission of Inquiry into Banif that Brussels has “a lot of pressure” to close the Banif process last year, but admitted this pressure, during which he led the folder, never resulted in an imposition.
the journalist Hugo Neutel followed the departure of Maria Luís Albuquerque to the Commission of inquiry
“it was absolutely possible to continue in 2016,” said Maria Luis Albuquerque, also referring to the news released by TSF that the European Commission (EC) had opened to extend this year the deadline to find a solution for Banif.
the former ruler stressed however that the EC “put pressure on the process It could be resolved more quickly, “to emphasize that in 2016 the resolution rules changed, going to demand bail-in of senior creditors. (The participation of senior debt holders in the rescue of the bank, which was not compulsory until then).
The former minister ensures even that “would have continued to work on the process, but I came out on November 26 “.
a lack of information” not relevant “
Part of the hearing of Maria Luís Albuquerque was dedicated to the day of the letter December 12, 2014; this missive, the European Commissioner for Competitiveness, Margrethe Vestager, put a new deadline (end of March the following year) for submitting a restructuring plan for the bank.
The deputy PS John Galamba noted that this was the only letter exchanged with the European authorities Maria Luís Albuquerque not forwarded to the administration of Banif, then headed by George Thomas. the parliamentarian noted that this information is relevant. should be included in the prospectus of the issue of 80 million subordinated debt that the bank did in January 2015.
Faced with this observation, the former minister admitted that he did not share the information with Banif, and explained that he did not because at the time sought to replace the bank’s management team. The deputy insisted on the issue, explaining that these investors – that is retail, are ordinary people, not experts on the subject -. And they most likely will not recover any amount invested, are “the injured Mary Louis”
the former ruler devalues this lack of information, noting that the information about the risk of the bank were explained in prospects. The letter also was not forwarded to the Commission of the Securities Market (CMVM), and Maria Luis argues that “the EC missives were not sent to the CMVM” or had to be, “and the letter” was not relevant in this case “.” what is relevant, “he continued,” is that there was a restructuring plan was not approved “
election Calendar” no influence “
the former minister also assured that the election schedule was not a factor that weighed in decisions about Banif. Maria Luís Albuquerque even recalled the example of TAP (the agreement for the privatization was signed a few days before the government end the mandate).
“These matters are too important to be able to be managed for these reasons,” he said, adding that “the example of what was done with TAP shows that when subjects are important and urgent, the electoral calendar do not prevents you from taking decisions “.
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