MPs insist Vara leaves jail to testify before CGD commission

The parliamentary zeal to get answers from former banking ‘VIPs’ at the helm when ruinous loans were issued by State Bank CGD has seen Armando Vara – currently behind bars – told he must turn up in person to address MPs on Friday. Vara – a director at CGD when it extended now notorious ‘bad loans’ to art collector José Berardo – had asked to be allowed to answer questions in writing.

Also ‘ordered’ to reappear has been Vítor Constâncio, the former governor of the Bank of Portugal whose perceived preferential treatment of Berardo (though he appears not to remember much of it) has caused a political storm and led to a new online clip over social media, suggesting “grave cases of Alzheimer’s in Portugal” (click here).