BCP Privatisation

The BCP farce has also emphasised a sinister side to Portuguese politics. With the Government putting forward a Board of Directors for the bank, it is easy to conclude that such a move represents the privatisation of the second largest Portuguese bank, second only to the State's "official" bank, the CGD. But that, in itself, is not the sinister part.

The sinister part is the argument among major political parties as to who, from each party, should be appointed to the Board of BCP. Does either party have members qualified to fill such a post - apparently not! Never mind. It is in "the national interest" to ensure that all political parties are duly represented. What a load of bull****! The national interest lies in ensuring that the Board is competent.

As the State is not a BCP shareholder, what has the government got to do with the matter? Apparently the politicians do not understand the difference between Government (the elected representatives at one particular time) and State (the structure set up to run the country, irrespective of who is in government) - the majority are only in politics to make a quick buck anyway.

Fortunately an alternative list of candidates has emerged. It will be a shame for Santos Ferreira to have resigned from the CGD and end up without a job, but that's politics!