Release from the PCP Press Office

Process of privatisation of BES/Novo Banco - Crime against the Country

After the privatisation of BES, after the Espírito Santo family and the groups that orbited around them had squandered the Bank's resources for decades, after mismanagement had opened up a financial hole, after the then PSD/CDS government having moved towards a resolution of BES in 2014, which opened the door to the flight of assets, holdings and a good part of the capital.

After claiming that there was only one alternative, handing BES over to Lone Star, as the PS did, which allowed this US economic group to manage a credit portfolio with public guarantees as it pleased, reap millions in dividends and sell the Bank whenever and to whomever it wanted.

After all this, there is the sale of the Bank by Lone Star to a French economic group, yet another economic crime that the PSD/CDS government is trying to consummate, with the complicity and silence of Chega, IL and PS.

The State and the Portuguese pay for the Bank, an American economic group earns almost five billion in half a dozen years without having spent a cent, and the French are left with a new, clean bank.

Those who swore in the past that the resolution of BES would have no costs to the Portuguese because this fund was fed by the banks - yet another lie that the PCP has dismantled - are the same people who, faced with a loss of public resources of never less than 6.3 billion euros, now say they are satisfied with the sale of Novo Banco and even call it a good deal.

We are facing yet another coup, yet another economic crime, perhaps the biggest we have seen this century, an affront to the workers and the people, an option that disregards national interests and resources.

An option that serves the economic groups and relies on the silence, action and support of a policy that bows to their interests.

The PCP will not allow this crime to materialise.

The Portuguese State owns 25 % of the Bank, paid for a gigantic financial hole and has a duty to defend national interests. Novo Banco should and must be integrated into the public banking system at the service of the country.

This deal and this crime must be stopped.

That's exactly what the PCP is proposing that the Assembly of the Republic do, through the Draft Resolution urging the government to reverse this process.

 

  • Economia e Aparelho Produtivo
  • Central
  • Banca
  • BES
  • Novo Banco
  • Privatizações
  • PS
  • PSD