Marcelo upbeat following meeting with presidents of Portugal’s five largest banks

President Marcelo has emerged upbeat from his tele-conference today with the presidents of five of Portugal’s largest banks.

He has been telling journalists from Belém Palace this evening that he has been left with the “sensation that banks are accompanying what is happening to businesses and families all over the country very attentively – and have taken initiatives beyond those taken by the government”.

The teleconference was essentially a “very helpful conversation” from which emerged some ‘concrete suggestions’ – some of which have already been taken up, others which are “dependent on positive dialogue with the government”.

Marcelo’s next step, tomorrow, is to have further talks with the Portuguese banking association (APB) and the governor of the Bank of Portugal Carlos Costa.

After these he is expected to give another press briefing to give people ‘hope’ that the banking sector will be doing its bit to help the battered economy get back on track.

Talking over the weekend as he visited farmers in Vila Franca de Xira, Marcelo said his motivation for calling the banks together was to hear what they were prepared to give after all the years in which taxpayers had been called to bail them out (click here).

natasha.donn@algarveresident.com