The Left Bloc has demanded an explanation about Ricardo Salgado’s BES pension as it says, only after the facts have been explained can the future government decide what can be done.
Bloquista Mariana Mortágua questioned the government about the upgrading of Salgado’s monthly pension from a capped €29,000 to the €90,000 full entitlement he will be drawing from November.
The Left Bloc has been following "with concern" the news about the upgrading of the pensions of all the former BES managers, including its failed Chief Executive Ricardo Salgado, whose pension upgrade by the Supervisory Authority for Insurance and Pensions has caused a storm of protest.
Left Bloc MP Mariana Mortágua, who served on the BES committee of inquiry, wants to know who will be paying the enhanced pension, whether it is down to the old BES, or Novo Banco created in the wake of the BES collapse last August.
Mortágua wants to know why the €29,000 cap imposed by the Vítor Bento administration has been lifted, allowing a monthly payment of €90,000 to be made from this month onwards.
"We will not permit the former BES managers to be rewarded like this," said the MP, speaking to reporters today.
"The Bank of Portugal, the Resolution Fund, and Novo Banco need to answer the questions but ultimately it is the Ministry of Finance's Maria Luís Albuquerque who has the political responsibility," said the MP.
Asked if the next government will intervene in this luscious pension arrangement, Mariana Mortágua said that "whoever made the decision will have to answer for it. In addition to the political responsibility of the Ministry if Finance, it is important that public authorities who have responsibility for the Novo Banco and the Resolution Fund respond."
The response to the issue by the future Left Bloc/Socialist Party alliance government, "can be given only after current doubts have been cleared up. We're not making hasty accusations," said Mortágua, well aware that Salgado’s €90,000 a month pension is a highly controversial benefit when under his reign the bank collapsed leaving thousands with their savings wiped out and many high profile companies such as Goldman Sachs nursing losses of hundreds of millions of euros in clients’ funds.
The BES pensions, if being paid from BES funds, are depleting available cash that could be paid to creditors. If the pensions are being paid from Novo Banco funds, the question 'why?' comes to mind.
