The Government will amend the banking law
to recover "some" of the eight names rejected by the European Central Bank
for the management of the Caixa Geral de Depósitos,
the Business Secretary of State for the Treasury and Finance
told the business newspaper, "Jornal de Negócios."
"We will align the Legal Framework of Credit Institutions and Financial Companies
with the policy of the EU and it will solve much of the problem,"
said Mourinho Felix, Secretary of State for the Treasury and Finances,
to the "Business Journal - Jornal de Negócios".
Laws made to fit the political atmosphere
and for the political convinience of the PM, António Costa,
and at the will of the radical government.
It is usually done with a decreet,
without the public discussion in Parliament,
which is the House of Representives of the country.
In the article published in the edition of the newspaper today,
Mourinho Felix said he believed that with the amended Act,
"to see if these eight people (who were now left out)
will be able to fulfill the requirements
to conform to the new requirements"
in order to join the board of Caixa Geral de Depósitos (CGD).
According to the PSD whip in Parliament, Luís Montenegro,
"This decision by the ECB,
(refusing eight of the names proposed by the socialist government,
as administrators of the State Bank),
shows the mess that has surrounded
the whole CGD management process,
and which now has a new episode
which also implicate the radical socialist government itself,
by affirming that it is not able to apply its own laws".
"This whole process is an authentic manual of everything
that should not be done and a hymn to the incompetence,
the lightness and the casualness of this contraption government.
On the other hand,
it is extremely embarrassing and humiliating
for the Portuguese State,
he told reporters.
In his view,
"the CGD is placed in a fragile situation because of the Government policies",
which now "want to change the law, to be able to name a whole crowd of administrators."
"The CGD is the guarantor of deposits of many thousands of Portuguese
and is a key instrument for the economic recovery of the country",
he said in a statement full of barbs towards Executive led by António Costa.
According to the PSD whip in Parliament, Luís Montenegro,
"This decision by the ECB,
(refusing eight of the names proposed by the socialist government,
as administrators of the State Bank),
shows the mess that has surrounded
the whole CGD management process,
and which now has a new episode
which also implicate the radical socialist government itself,
by affirming that it is not able to apply its own laws".
"This whole process is an authentic manual of everything
that should not be done and a hymn to the incompetence,
the lightness and the casualness of this contraption government.
On the other hand,
it is extremely embarrassing and humiliating
for the Portuguese State,
he told reporters.
In his view,
"the CGD is placed in a fragile situation because of the Government policies",
which now "want to change the law, to be able to name a whole crowd of administrators."
"The CGD is the guarantor of deposits of many thousands of Portuguese
and is a key instrument for the economic recovery of the country",
he said in a statement full of barbs towards Executive led by António Costa.
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