PCP proposes immediate nationalization of Novo Banco

The communists propose that “the Government reverses the contract for the sale of Novo Banco, guaranteeing that any indemnities will be applied exclusively to the amount injected by Lone Star”.

The PCP proposed today, in the Assembly of the Republic, that the “process of integration” of Novo Banco “in the public sphere” or nationalization begin immediately.

The communists propose that “the Government reverses the contract for the sale of Novo Banco, guaranteeing that any indemnities will be levied exclusively on the amount injected by Lone Star, less any eventual gains arising from the management of the bank's assets, or from harmful management practices”, read in a note released by the parliamentary group.

The PCP also proposes “an extraordinary assessment of the policy for managing assets, wealth and debt forgiveness at Novo Banco, the suitability of its directors, namely with regard to the policy of premiums and the salary policy of management and managers top ”.

Almost at the same time as the Novo Banco nationalization bill was announced, Jerónimo de Sousa, secretary general of the communists, criticized, in a hearing with unionists, the continued injection of money by the state.

When Jerónimo recalled that his party had proposed the creation of a public fund, financed by the State Budget, to guarantee wages to workers, he asked a question and he himself answered: “They will say that we must realize that there is no money, to which it will be enough to answer with two words: Novo Banco. ”

"While some are entertained with the discussion about whether there should be an audit or not, for Novo Banco, as happened in recent years for banking in general, billions of euros run out without the banks being in the possession of the Portuguese people" , said.

In the text accompanying the bill, it is recalled that the transfer of “another 850 million euros to Novo Banco” will give reason to the party that, in the 2020 State Budget, proposed that “any transfer to Novo Banco should mean the beginning of the process of recovering its public control ”.

Portuguese taxpayers “continue to pay the bottomless hole of ruinous private banking management, and in the end the bank remains private, and is not placed at the service of the country,” according to the PCP.

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PSD requests written clarifications from Novo Banco management

Speaking to journalists in parliament, PSD deputy Duarte Pacheco announced that, after party president Rui Rio on Wednesday asked “relevant questions” to the prime minister, who “did not get an answer”, today the Novo Banco president said he was available to inform parliament and provide all necessary clarifications.

Novo Banco management regrets that bank is “used in political maneuvering”

The bank led by António Ramalho responds to Wednesday's parliamentary debate. "Honorable Members should seek, through all initiatives, and we emphasize all the initiatives that are in their powers, to investigate everything they want".

António Costa on Novo Banco: “If the audit fails, the Resolution Fund can get money back”

The prime minister guarantees that the Resolution Fund has every legitimacy to recover the money he has now disbursed with the injection of 850 million euros in Novo Banco.

Marques Mendes: “António Costa and Mário Centeno had no sense of state”

The political commentator says that in the case of the loan of 850 million to Novo Banco the responsibilities are not exactly the same. "Centeno was right, but he was twice disloyal to the prime minister."
António Costa and Mário Centeno

“There is no crisis, no mini crisis, no nano crisis”, stresses Costa about Mário Centeno

According to the prime minister, there is neither a political crisis nor an "internal conflict" with the Minister of Finance: "Everything proceeds normally at the political level".

Even without an audit, Novo Banco received over 850 million euros in state support

The 850 million euros were transferred to the Resolution Fund in the form of a loan, which injected 1.037 million euros into Novo Banco. The money is intended to compose the accounts of Novo Banco 2019.

Novo Banco impairments slowed after the sale to Lone Star

Novo Banco constituted fewer new impairments after the sale to Lone Star. The year in which the bank constituted the largest volume of impairments was in 2017, the year of the sale to the North American fund.

Marques Mendes says that the four contracts for the sale of Novo Banco must be made public

“There are at least four contracts, four contractual documents involving the State, the European Union, the Lone Star and the Resolution Fund, and if it were possible, they should all be made public. [Because] when there is public money, it must be made public. There are four contracts and there is at least one that is more important than the purchase and sale contract, ”said the political commentator.

Jerónimo de Sousa: Fund for Novo Banco solved half of social problems

The communist leader called the situation “unacceptable” and underlined that the solution of social problems is not achieved because “the preference was to inject another 850 million euros in banking”, taking the opportunity to appeal again for “the integration to start immediately. of the bank in the public sphere ”, as proposed in a bill presented by the PCP, in the Assembly of the Republic, on Friday.