A decision will have been accelerated in time to be announced this Friday. This is the agreement with the injured BES. António Costa, the prime minister, has been in New York, the purpose of taking possession of António Guterres as the UN secretary-general, but lost no time on the trip and already gave the nod to the solution that will advertise. In practice, it is a government of alliances on the left that will announce to have created the “conditions” that António Costa spoke a few days ago: “to Create measures to restore conditions in the financial system.”
Are at least three measures that create these conditions: on the one hand the appointment of a new president of the CGD, which will perform the urgent recapitalisation plan of the bank the public, on the other hand the agreement with the injured parties of the BES that will cover more than 90% of the target, and, finally, the sale of the New Bank. The last few weeks have been rich in news related to the banking national. In the next weekend or at the start of the following week, the same may happen, reveal some sources close to the bank. All will be good news for the financial system, taking into account the weakness in that is there is very. In my view, it is worth mentioning the agreement with the injured parties of BES, this Christmas eve. These clients, many of them small savers who barely knew what they were buying, and much less what exactly is a commercial paper, you will see the recovered part of your investment.
many Were the fears that savers have passed in these years, were often kicked to the corner by politicians, at other times they felt slighted by the Bank of Portugal and, finally, see a solution at the end of the tunnel. Of course that will only believe on Friday that there is actually a agreement closed and ready to be applied. After all, this is a Christmas gift there is much desired.
Before the giant snowball that was to transform this theme of the victims of the BES , the executive and the Bank of Portugal, featured the theme among the priorities to handle before the close of the year. The Bop approved the final proposal that assigns to the resolution fund, which is owned by the largest banks, a large part of the financial burden of the solution agreed with the government, the Portuguese SECURITIES market commission, the Association of the Injured parties and the Bank of Portugal. The public accounts are thus safeguarded, one of the conditions imposed by the executive that it does not affect the deficit. At least in this topic there is a safeguard, in the case of the payment of the swaps to the Santander Totta (theme explored in an article in this issue), taking into account the short provisions in the reports and accounts of public transport companies to meet the costs of the swaps, the deficit may emerge penalized.
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