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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“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.

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