Bankers are asking for a quick decision to avoid instability in the face of the international situation

This Thursday, those in charge of Portugal’s main banks demanded a speedy end to the “waiting period” that began with the resignation of Prime Minister António Costa, in order to avoid instability in the face of the international situation.

“This situation that we are experiencing is completely unpleasant on several levels, not only because of the country’s reputation abroad, but in a sense it will create a waiting period here that the country does not need, but which will inevitably happen,” said the BPI president João Pedro Oliveira e Costa at the Money Conference organized by Dinheiro Vivo and TSF, where he called for “common sense”.

BCP President Miguel Maia noted that the resignation of Antonio Costa in itself is not enough to worsen the country’s perception among financial rating agencies.

“But if the country does not react quickly, I have no doubt that it will lead to this degradation. I think the way we manage time has a much greater impact on what the perception of risk might be.” Likewise, the leader of the TUC praised that the process that led to the dismissal of António Costa “is impossible in a country where there is no independence between the political power and the judiciary.”

Caixa Geral de Depósitos (CGD) President Paulo Macedo said that the state budget for 2024 (OE2024) must be approved in accordance with the provisions already presented, which are being discussed in parliament, leaving the possibility of amendments to the budget. “You shouldn’t add uncertainty to uncertainty.

We must not stop reducing taxes for the population and have mechanisms in place, such as increasing the salaries of civil servants,” insisted Paulo Macedo. The approval of OE2024 was also defended by Santander President Totta Pedro Castro y Almeida, and then only in certain cases. points.

“The only thing that seems to me that should be approved are the issues of raising pensions and reducing the IRS, which seem to be measures that will have an effect that should not be delayed for another six months,” he said, given the geopolitical context is “already difficult.” and the European and global economy is “slowing down.” Banco Montepio President Pedro Leitan agreed that a quick solution was needed.

“Any scenario that is quick and within the framework of the Constitution will be the best,” he noted, a position also defended by Novo Banco administrator Carlos Brazao. “I echo my fellow panellists a little bit: what we really need is stability.

Whatever the solution, it is important that the solution is quick and can be applied,” he said in his speech. Stating that the bank is “simply an economic agent like many others that exist in the economy”, the administrator of Novo Banco insisted that stability was “essential” for companies and families.

Prime Minister António Costa asked the President of the Republic to resign on Tuesday, and he accepted the offer.

Antonio Costa became the target of a Justice Department investigation in the Supreme Court after suspects in a lithium and hydrogen business case named him because he intervened to unblock procedures in the projects under investigation.

The department’s operation on Tuesday was based on at least 42 searches and resulted in the arrest of five people. The accused were Infrastructure Minister João Galamba and the President of the Portuguese Environmental Protection Agency, Nuno Lacasta.