“It will not be a bank, as it will not accept deposits or Grant credit”, Carlos Costa said in an opinion article published on Tuesday’s edition of the paper, which highlighted some aspects of the “bad bank” vehicle defended by the bank of Portugal’s governor.
Carlos Costa said that “one essential measure to recover profitability is to extract the non-productive assets by selling them to third parties or transferring them to a vehicle that takes over the management and recovers the respective value”, insisting on the idea of a “bad bank”.
He explained to the paper that “the general idea” is the Italian model which Brussels agreed with, “but with some possible changes”.