Ulrich: “we Should be less hillbillies” to listen to the international authorities – Jornal de Negócios – Portugal

Fernando Ulrich argues that the international authorities that point out the non-performing loans as one of the major problems of Portugal “should look at all the countries because there are worse situations”. The banker argues that the Portuguese should also be “less hillbillies” in relation to these assessments.

“we Should be less hillbillies” instead of “giving so much importance to a study I do not know where, who-knows-done as” recommended Fernando Ulrich when asked about whether he would agree with the position of the various international authorities that point out the non-performing loans as one of the major problems of the Po rtuguese economy.

“we Have to look at this with more maturity and more professionalism”, called on the banker.

Ulrich argued that “it was good” that these international organisations “look at all the countries that have under their jurisdiction because there are worse situations” than the Portuguese in relation to bad debt.

The issue of credit in the non-compliance has been pointed out by the European Commission and the international Monetary Fund as one of the major weaknesses of Portugal. The IMF has even point at the bad debt of the national banks as one of the risks of the world economy.