Maria Luís Alburquerque, ex-Minister of Finance
In November, Luis Maria refused bad solution for taxpayers
The then finance minister never wanted a solution
to the Banif that passed by the use of taxpayers' money.
In November, before the Socialist Government, headed by António Costa,
took office, the governor of the Bank of Portugal,
sent a letter to then Minister of Finance,
alerting her to the urgent need for the state
to intervene in the Funchal bank, Banif.
But, according to the Express newspaper,
Maria Luís Albuquerque refused to inject public money into a private institution.
In response, also by letter, two days later (November 19)
having received the letter of Carlos Costa,
the Minister assured that the position she assumed,
was "shared by the entire government."
According to the weekly, without the injection of public capital in Banif,
there remained two hypotheses:
the private sale without the state to invest more money
or the gradual liquidation of the bank.
The first came to be on the table last Friday,
but it turned out to be impossible,
because all the proposals for the bank's purchase,
included losses to taxpayers.
The second,
which was in fact a solution advocated by the Directorate-General
for Competition of the European Commission,
would lead to the gradual closure of the bank,
which could no longer accept deposits nor grant loans.
However, also this solution was dangerous for taxpayers,
because safe from harm were only deposits up to 100,000 euros.
Banif was eventually sold to Spain's Santander for 150 million euros,
forcing António Costa proposing an amending budget
- which was approved yesterday in the Assembly -
to accommodate the money the state will inject
into the sale of the Banif Bank of Funchal.
The most amazing of the facts are the following:
During last week, TVI television station,
launched a "false" alert,
claiming the Banif Bank was closing down.
It caused a panic run of depositors
who withdrew their money from the bank,
In about 24 hours the bank lost 900 million euro.
But unknown to many,
the TV Station and the eventual bargain buyers of Banif,
Santander Totta,
BOTH BELONG TO THE PRISA GROUP!
This incredible weekend sale of a Bank,
under very strange circumstances,
will cost the portuguese taxpayers more than 3,000 million in taxes.
António Costa, nearly saw the end of his unelected fraudulent government,
when in the proposed emendment budget voting,
his marxist-leninist partners of coalition, voted against the proposal.
Costa was saved only by the abstention of vote from the PSD,
the very elected government
that Costa and his radical marxisits-leninists "best-friends-forever"-coalition,
overthrew just 3 weeks before.
WHY MUST THE TAXPAYERS ALWAYS BE CALLED IN TO
FOOT THE BILL OF PRIVATE BANKS
NATIONALIZED BY THE SOCIALISTS??
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