Novo Banco’s sale should be decided this week, says Marques Mendes

  • ECO News
  • 27 March 2017

During his usual Sunday night commentary, Marques Mendes stated the decision about Novo Banco should be made by the end of the week, which coincides with the end of March.

Marques Mendes, politician and commentator, stated this Sunday on his weekly commentary on the Portuguese TV channel SIC that the decision concerning the negotiation and sale of Novo Banco should be made this week. “It will be a very controversial matter, both in general and especially for the majority supporting the Government”, he said.

“A decision must be made this week, it must be decided if there is a sale or not by March 31st. The minister of Finance stated everything was going well, but I believe that up until a day or two ago, things were not going so well”, the commentator said, adding that “Brussels” is one of the problems the negotiation is facing.

According to Marques Mendes, there are three possible solutions for the business:

  1. Brussels puts its foot down and says it will not back down;
  2. The Government gives in and sells 100% of NB instead of 75%;
  3. Or they meet halfway, and both the Government and Brussels give in. “An ‘I stay but I demand these terms’ situation”.

Marques Mendes also added that he believes the latter is the most likely scenario.