The former deputy governor of the Bank of Portugal João Salgueiro said today that you need to avoid vulnerabilities in Portuguese banks, a limit situation, could lead to a resolution similar to that of Banif.
Prosecutors manifest ‘Reconfiguration of banking in Portugal – Challenges and Red Lines’, that John Salgueiro is the most visible face, were now to submit their ideas for the future of the Portuguese banking sector before the members of the Budget and Finance Committee <. / p>
Very critical resolution Banif decided in December last year, as we have repeated many times, João Salgueiro said it is important to prevent “this situation is reproduced in other Portuguese banks.”
to the economist, “the Portuguese banking system there are several cases that need to be addressed,” the case of the New Bank, Caixa Geral de Depósitos, BCP and even other “smaller banks” to minimize situations that may . significantly reduce the value of these institutions
“There are vulnerabilities that can lead to an outcome similar to that of Banif,” Willow said, calling attention to the Portuguese authorities to – sometimes by mere “rumors” -. is called into question the viability of banks
in May, João Salgueiro, former Finance Minister Francisco Pinto Balsemão, had already caused controversy after saying in an interview with Antena 1, which could there three banks in the rescue line. In view of the discussion that the economist’s words caused, the former president of the Portuguese Banking Association came clear:. “It’s not all redemptions”
In an interview with Antena 1, João Salgueiro had stated the following: “The Banif is the first warning to us but as there are other banks in line to be rescued … the case of the New Bank? The case of New Bank … may be the case of BCP, the case may be the case, it may be the case for a more modest bank that can get expensive too. “
Later, speaking to Mad Money , the economist explained: “the three cases are different, are not all a rescue. There are three banks in line to be the same that the Banif “which was operated upon, João Salgueiro exception.
” In the case of Caixa Geral de Depósitos you may need a capital increase. Capitalize Box is a must but you can not discriminate against the bank in terms of its shareholder [the state]. ” Ultimately, Brussels can say that a capital increase “confers State aid”, as with Banif. In the case of the New Bank, “it takes time” – not to be sold in a hurry. Already on the BCP, João Salgueiro says this is “a case that would be interested in increasing dimension”, although with limitations imposed by Brussels.
Finance Former minister condemned also the fact anyone take responsibility for resolution and sale of Banif process. “In Brussels say the decision was taken by Portugal. Portugal says it was Brussels. It is unfortunate that this will pass and no one takes responsibility. “
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