BCP Executive President Renews Criticism of Notional Capitalization Mechanism

BCP Executive President Renews Criticism of Notional Capitalization Mechanism

The chairman of the Millennium BCP executive committee this Friday expressed regret that the discussions on the audit of the Accounts Chamber of Novo Banco continue to forget the “unacceptable” notional capitalization mechanism created to finance the bank.

“I see all these comments around the report, on the one hand and on the other, and I ask: the only thing that seems to me deeply wrong is the only thing that [sobre a qual] I don’t see people saying: how can we adjust the contribution mechanism in a balanced way so that banks [portugueses] compete with other banks in the Eurozone?” Miguel Maia told reporters on the sidelines of BCP’s Millennium Talks conference in Porto to discuss business investment.

Regretting that “no one pays attention to a topic that should be central,” the BCP leader stressed that “this conditions the ability of Portuguese banks to support the economy.”

Author: Lusa

Source: CM Jornal

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