The ECB concluded that the invitation of Antonio Costa did not jeopardize the independence of Mario Centeno

The ethics committee of the European Central Bank concluded that the governor of the Bank of Portugal did not act in a way that would jeopardize his independence if the prime minister were invited to replace him, it was announced this Friday.

“The Ethics Committee considers that Centeno did not act in a manner that would jeopardize his independence as a member of the ECB Council or harm the interests of the Union,” said the response sent by ECB President Christine Lagarde. MEPs who asked about this case.

The letter contained an opinion signed by Erkki Liikanen, who believed that “the Ethics Committee found no indication that at any time you [governador do Banco de Portugal, Mário] Centeno expressed or confirmed his intention to receive Mr. [primeiro-ministro, António] Coast.

This is about the controversy that the name of Mario Centeno (former Minister of Finance of the PS government) was proposed by the current Prime Minister to replace him in this post (after António Costa resigned due to a judicial investigation), which caused criticism from opposition parties as they believed Centeno’s independence as governor was at stake.

The Ethics Committee found that Mario Centeno’s independence “could not be considered impaired” because he was not formally offered the position of prime minister and was “not inclined to accept it.”

The opinion also states that the fact that the Governor of the Bank of Portugal did not notify Christine Lagarde and/or the Ethics Committee itself, as required by the Uniform Code, can be considered as a sign of lack of intent. take on the role of Prime Minister or that his thoughts are not yet mature enough to require concrete action.”

The Ethics Committee specifies that it requested and received information about the facts and received confirmation that during the events immediately following the resignation of António Costa as Prime Minister, Mario Centeno “retained full time employment at Banco de Portugal and full freedom of action.” , in order to “protect the interests” of the institution he heads.

Speaking to the Financial Times on Sunday, November 12, the Bank of Portugal governor said he had received “an invitation from the President and Prime Minister to think and consider the possibility of leading the government” and that he was “very far from making a decision.”

In response, early in the morning from Sunday to Monday, the President of the Republic published a note in which he denied that he had invited anyone to head the government, including Mario Centeno, or had authorized any contacts for this purpose.

Marcelo Rebelo de Sousa’s statement prompted Centeno to correct his statement: “It is obvious that the President of the Republic did not invite me to lead the government” as he decided to dissolve the Assembly of the Republic, Mario Centeno said in a statement.

Mario Centeno’s conduct led to an extraordinary meeting of the Bank of Portugal’s Ethics Committee for assessment, which found that the manager had fulfilled his general duty of conduct and “acted with the necessary qualifications.” However, he added that “at an objective level, subsequent political and media developments could damage the image of the Bank,” given that “the protection of the institution is even more relevant in a period such as the current one.”

In this sense, the Presiding Committee recommended that “the Governor, the administration and the Bank as a whole remain committed to protecting the image and reputation of Banco de Portugal.”

The Board of Directors of Banco de Portugal, headed by the Governor, considered that “the conditions for the independence of Banco de Portugal and its bodies in the exercise of their powers have always been respected.”