Coast ‘features’ solution to the grievances of the BES. “We are not able to straighten the shadow of a stick pie” – Express

The prime minister, António Costa, said on Monday that the solution is found to the grievances of the BES leaves the feeling of "duty done", although this afternoon have not been advanced more details on how it will be financed this solution, in a communication in São Bento without the right questions.

"The solution is the balanced compromise that seeks to minimize the losses existing," said António Costa this Monday, in the communication of the results of the working group. "We haven’t achieved the miracle of straightening the shadow of the stick pie, but we managed to get a solution that is not exempted from paying fees who has the obligation to pay, allows those who have the right to receive that you can anticipate the that you are entitled to receive, and guarantees to taxpayers who will not need to ensure with your effort to overcoming this situation", stated António Costa in the press conference.

The prime minister said still think that despite not having straightened "the shadow of the stick the pie", the Government fulfilled the duty to "ensure justice", finding a solution to a problem "that the era of conflict and that fragilizava trust in institutions and in the financial products of the market."

Still without advancing more details about the solution found to the grievances of the BES, were made compliments to the "balance" that this solution brings to the problem. Lacerda Machado, spokesman of the working group, said that this solution allows to minimize the losses of the injured parties and results in an "notabilíssimo the spirit of dialogue" between the parties involved, and a "spirit of genuine cooperation".

Diogo Lacerda Machado, the representative of the Government in the negotiations with the injured of GES, it was considered that the solution seems "acceptable, balanced, and feasible" and respects the recommendation of the commission of inquiry with a view to the position together of the various entities involved.

The lawyer stressed that the solution found means, in the first place, that customers who agreed to give up a large part of the rights, taking into account the particular circumstances of the situation. "The victims of GES volunteered to give up a large part of that claim. The credits amount to eur 485 million euros and are willing to receive 286 million euros," he added.

Ricardo Ângelo, president of the Association of Outraged and Deceived of the Commercial Paper, considers that the solution found gives you a feeling of "duty done". "The solution allows us to anticipate our savings that were entrusted to the Portuguese financial system," he said, remembering the "suffering" that were these times. "It’s extraordinary to put an end to this process." Considering that the association of the victims of the BES had a "responsible behavior" in this process, Ricardo Angelo reported that the intervention had on the street was "the result not only of lack of being heard".

Praising the role of António Costa in the process, Ricardo Angelo said that the prime minister realized that this "was a problem of the country" and spoke of Lacerda Machado as "best friend" of the Coast. "It’s extraordinary the work they could do. Managed to create a consensus between the cat and the mouse," he added.

it Is expected that the injured parties that support the solution the Government will receive 75% of the amount invested up to €500 thousand and 50% for the applications above 500 thousand, which amount will be paid over three years.