State may recapitalize Box “if you do as a private,” said European Commissioner for competition – Express

The state can put money in the Caixa Geral de Depósitos if you do as a private, said Margrethe Vestager, European competition commissioner, in an interview with “TSF” this Monday. Brussels has no prejudice kind with respect to public ownership of a bank guarantee.

“As a matter of principle, a State may invest. It does not have to be necessarily state help. If the state investing as a private investor would, well that’s great for us and, of course, is not state help, “he said Margrethe Vestager.

Still, the European Commissioner noted that Brussels has always powers to stop the intervention in the case. “The only cases in which we have a role to play is obviously when taxpayers’ money is used in a way that not similar to the way a private investor would use the money,” he said.

Vestager left still some indirect messages to Antonio Costa, noting that the recapitalization box is not a political issue. “Decisions can not be political. Also they may eventually have to be taken to court. And the court will not hear anything that is political or biased with respect to a state or a type of ownership rather than other property” he said.

the possible public capitalization of Caixa Geral de Depósitos will be analyzed solely on the legal point of view and there is no room for political positions, explained to “TSF”.

according with the “Public” also on Monday, the final recapitalization solution of Caixa Geral de Depósitos is virtually closed with the European Central Bank (ECB): lack just sign the papers. The Directorate-General for Competition of the European Union (DGComp) have already given the green light to the general lines of this process.

Antonio Domingues, who will manage the CGD during the three year period 2016/2018 and has participated in these negotiations with Brussels wants the necessary authorizations for bank recapitalization to be signed in the next two weeks, at which time will assume the new position. To define is how the injection of funds will be made (whether in stages or not) and how this will be reflected in the public accounts:. Increasing the debt or the deficit