Vara says that Filipe Pinhal "can only be deceived" on the dates on BCP – O Jornal Económico

Former CGD administrator Armando Vara said today that Filipe Pinhal, a former director of BCP, "could only have been mistaken on the dates" on the inclusion of his name in the lists for the bank's management in 2008. On Tuesday , Filipe Pinhal had said that both Paulo Macedo and Miguel Maya, members of his list for the BCP administration, had been told on the morning of December 3, 2007 that to succeed the list would have to include Armando Vara and Carlos Santos Ferreira.

"I have heard this, but I have a good opinion of you, and I think he was wrong on the dates. It was impossible for you to say what happened that day, "said Armando Vara, adding that" he did not know anything. "

Armando Vara said that he was invited by Carlos Santos Ferreira in 2007, "at the end of 2007".

"At the beginning or the end [do mês de dezembro]? "Asked Virgilio Macedo, to which Vara replied" perhaps in the middle. "

Vara further states that "at the date that he [Filipe Pinhal] says that certain things were happening, they were not. "

On the passage from Caixa to BCP, PSD deputy Virgílio Macedo said that Vara could not "make believe that Caixa's move to BCP had no political context" and that the former minister referred to José Sócrates as " boss".

Virgílio Macedo also stated that Armando Vara "was one of the faces of an assault on BCP to favor business of friends, in which control of CGD and BCP was also included" and that he could not "convince the Portuguese" that was not "a political emissary of the PS".

"Mr President, what am I going to say to convince you? He thinks that the Portuguese – as well as he spoke of the Portuguese – remember the result of the last elections, certainly, "replied Armando Vara.

The former CGD administrator also said that the issue of credit for stock "was not a subject that disgusted banks," which did so "very easily."

However, later, Vara said that "no one made decisions lightly."

"If we had imagined that any of those credits would not be honored, we had not granted them. What happened is that there was a crisis in international finance that Portugal could not remain immune to, "he added.

"All the economy, companies, operations leveraged in bank credit failed, because the collaterals devalued and it was not possible to strengthen the collaterals, the companies were executed," said Armando Vara.

The former CGD administrator, who is currently serving custody in Évora for influence peddling in the Face-Hidden process, considered that in the past decade it was "normal, more in some places than in others" to grant credit without the borrower owning equity appropriate.

"At the time these operations were our daily bread on the bench," said Armando Vara.

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