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The Portugal Brief

The Portugal Brief

Polícia Judiciária Searches AIMA's Ponta Delgada Office in Operação Linha Direta — Public Servants Suspected of Selling Appointment Priority and Case-Processing Speed Inside the Loja AIMA dos Açores

Polícia Judiciária Searches AIMA's Ponta Delgada Office in Operação Linha Direta — Public Servants Suspected of Selling Appointment Priority and Case-Processing Speed Inside the Loja AIMA dos Açores

PJ executed nine warrants on 29 April in Operação Linha Direta — three residences and three premises including the Loja AIMA in Ponta Delgada. Crimes: abuso de poder, recebimento indevido de vantagem, corrupção. AIMA opened an internal inquiry; STM union responded 2 May.
The Portugal Brief
BPCE's €1 Billion Cheque to the Fundo de Resolução Covers Only 15% of the Vehicle's State and Banking-Sector Debt — Novo Banco-Banif Liabilities Still Hang Over the System as Luís Máximo dos Santos Steers Repayment Plan

BPCE's €1 Billion Cheque to the Fundo de Resolução Covers Only 15% of the Vehicle's State and Banking-Sector Debt — Novo Banco-Banif Liabilities Still Hang Over the System as Luís Máximo dos Santos Steers Repayment Plan

The €1 billion the Fundo de Resolução netted from the BPCE acquisition of Novo Banco covers only 15% of the vehicle's accumulated debt to the Portuguese state and the bank-sector consortium. Implied residual liability of around €5.5-6 billion, with no disclosed repayment horizon.
The Portugal Brief