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The governor of the Bank of Portugal (BdP), Mário Centeno, warned that Portugal has commitments with Novo Banco that should not be questioned, to avoid negative impacts on the financial stability of the country. At a time when the financing of the institution led by António Ramalho is a battle horse in the negotiations on the State Budget for 2021, the former Minister of Finance stressed that “there are always alternatives, you just have to assess them.”
“We do not want to experience periods of this nature again, under these conditions,” said Mário Centeno, in the question and answer session of the presentation of the Economic Bulletin, in October, this Tuesday, at the Museu do Dinheiro, in Lisbon, in reference to the risks that the OE2021 negotiations may have for the stability of the country.
The BdP governor stressed that “all decisions that endanger the stability of the financial system should be avoided,” highlighting that “the multiple decisions that affect this aspect in the budgetary context should be addressed.”
He recalled that when the State “assumes commitments that it assumes with multiple parties” it is “expected” to fulfill them, highlighting that Novo Banco is one of those commitments.
“All decisions that put this compliance and stability dimensions into question should be avoided,” he stressed once again, stressing that “you always have to look at the alternative to this decision-making. There are always alternatives, you just have to assess them ”.
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