Loans to finance BCP shares were "coincidence", underlines Vara – O Jornal Económico

Former Caixa Geral de Depósitos (CGD) administrator Armando Vara said today that the loans to finance BCP shares were a "coincidence" and that there is no "causal link" to his going to the private bank.

"I do not see any causal link. It was a coincidence, "said Armando Vara to PCP deputy Paulo Sá, who asked him about the 'war' of power in BCP and the subsequent departure of Vara and Carlos Santos Ferreira, then president of CGD, to the private bank.

Armando Vara also said that he "did not know personally" the businessman José Berardo, who "had no relation with him" and that only knew him "in the phase of going to BCP."

However, Vara did not exclude "that as we have already mentioned, there was a certain compromise between people […] who had some appetite for the direction of the bank, "a reference to the words of the deputy of PS Constança Urbano de Sousa, who had referred to the names of Paulo Teixeira Pinto [então presidente do BCP] and António Mexia.

"I do not believe in the conspiracy thesis," said Armando Vara. "We had nothing to do, under any circumstances, at any time."

Armando Vara went on to say that "he only knew what was happening" later, but that did not mean that he had been "a year to see ships".

"I am well aware of the interests that were moving against us," said the former minister, who will "write on the matter" in due time.

Armando Vara also confessed that "if he was aware of what would happen next, he probably would not have agreed to go to BCP."

The former CGD administrator further stated that what ultimately determined his departure and from Santos Ferreira to BCP "was the determination of someone other than Filipe Pinhal" for the presidency of the bank, who "was vice president at the time in which the engineer Jardim [Gonçalves] was president. "

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