Memorandum of Understanding with damaged commercial paper is signed this Wednesday in St. Benedict
The first -minister presides today at 18:00, at the official residence in Sao Bento, the signing of the memorandum of understanding that lays the groundwork for a solution to the commercial role of the Espírito Santo Group (GES).
Source officer executive said the agency Lusa that the memorandum will be signed in addition to the Government, representatives of the Commission of Marked Securities (CMVM), the Bank of Portugal, the Association of Indignados and Deceived Commercial Paper (AIEPC) and Bank Espirito Santo (BES).
the resolution of the issue of victims of BES, the issuance of commercial paper of GES, has been assumed as a short-term priorities of the socialist executive who claims the urgency of restore confidence in the Portuguese financial system. António Costa, as well as several leaders of the Socialist Party, deplored already publicly the impasse over the resolution of the problem of victims of commercial paper of GES. – Position that was interpreted as a criticism of the performance of the Bank of Portugal
Government source has stressed that today will sign a memorandum with the negotiating basis for a possible understanding, not a final agreement on the commercial paper of GES.
at stake are 2,084 paper subscribers commercial claiming 432 million euros, with those customers subscribed commercial paper GES companies but sold to BES counters. The money was almost completely lost when the ‘implosion’ of the whole family group Holy Spirit in 2014.
“It is an assumption of good intentions”
the association representing the injured has admitted several times that is likely to be losses to customers, each of them may not recover all that invested, but it will fight for the “maximum possible”.
last week, the association of victims of the Holy Spirit Group considered that the meeting with bank regulators Portugal and the CMVM, which took place on Tuesday, had gone well, adding that soon would be signed the memorandum which provides for the customer compensation. He explained the president of the Association of Indignados and Deceived Commercial Paper (AIEPC), this Memorandum of Understanding should be signed by the regulators and the Government.
The official stressed, however, that there is “still comes to Material solution “with the value that customers receive the serve to compensate for the money lost by having invested in commercial paper Espírito Santo Group (GES).
” it is an assumption of good intentions. it is a statement we are all in good faith, committed to find a fastest possible solution, “said Ricardo Ângelo Lusa, stating believe that by April will be able to close the deal with the amount to be paid to each client.
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