LISBON – MP to block Centeno from becoming Bank of Portugal governor

Liberal Initiative MP, Cotrim Figueiredo, said on Wednesday (8 July) that he will issue an injunction to prevent the appointment of Mário Centeno as governor of the Bank of Portugal before the parliamentary legislative process on the issue is concluded.

“Out of full respect for the separation of powers in a state under the rule of law and given the dissatisfaction that the Liberal Initiative has with the legislative process here in the Chamber, we will issue an injunction to prevent this appointment from taking place before the conclusion of the legislative process,” Figueiredo said during the former finance minister’s nomination hearing.

On 25 June, Prime Minister António Costa notified the parliament’s president of his government’s proposal to appoint former Finance Minister Centeno as Central Bank Governor.

Centeno told parliament that the Bank must return to being a reference institution and cannot lock itself in an ivory tower or characterise its action by antagonism or isolationism.

“I know the Bank of Portugal well. The Bank must return to be an institution of reference in Portugal and Europe since it gathers many of the best technicians trained in Portuguese universities. The Bank of Portugal has to become synonymous with action to face up to the countless challenges, but it shouldn’t face it in an ivory tower, but with society,” Centeno said in his initial speech to the budget and finance committee, where he is being heard as part of his nomination for governor of the Bank of Portugal.

(Irina Melo, Lusa.pt)

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