Former bank CEO turns “big bad wolf” in rejecting plan to increase pensions

Former bank boss Vítor Bento has managed to cast himself as the “big bad wolf” by saying he rejects left-wing calls to increase pensions by €10 a month.

Using the analogy of the “three little pigs”, Bento told Radio Renascença that any kind of pensions increase would send Portugal’s economy further backwards.

“If we take the trouble to make a house of stone, we will be better prepared against the blowing by the big bad wolf than if we build a house of straw”, he said.

But as populist tabloid Correio da Manhã pointed out in large letters in their headline today, Bento receives a monthly pension of €5000, thus a €10 increase would make very little difference to him personally.

It is a simplistic way of looking at the gathering stories as the government prepares to present its crucial Portugal 2017 State Budget.

Further into his interview with RR, the respected economist and former president of BES and later of Novo Banco said that from what he had seen of the government’s proposals so far, “it would be hard to imagine a politics more aggressive towards investment”.