Centeno heard today in parliament about going to governor of Banco de Portugal

Centeno's hearing, which kicks off at 9:00 am (Lisbon time) on the budget and finance committee, is mandatory before being appointed governor of the central bank.

The choice of Centeno for the post was controversial, due to the fact that he was transferred almost directly from the Ministry of Finance (where he was minister until June) to Banco de Portugal and, on June 9, was even approved in parliament, in general , a PAN project that established a five-year period of disgust between the exercise of government functions in the area of ​​Finance and the performance of the position of governor.

However, on June 17, the parliamentary left (PCP and BE, as it was already known that PS was against) demarcated the PAN's intention to establish this period of disgust and, on June 25, parliament suspended the assessment for four weeks. in the specialty of the PAN project until the opinion requested from the European Central Bank (ECB) arrives.

On the same day, the Prime Minister, António Costa, wrote to the President of the Assembly of the Republic to communicate the Government's proposal to nominate former Finance Minister Mário Centeno to become Governor of Banco de Portugal.

Carlos Costa formally ends today (July 8) his second term as governor of Banco de Portugal, but will remain in office until his successor takes office.

Mário Centeno was born in the Algarve in 1966 and graduated in economics at ISEG, in Lisbon (where he became a full professor). After returning from Harvard with a doctorate, in 2000, he joined Banco de Portugal, where he was an economist, deputy director of the Department of Economic Studies and a management consultant.

Between November 2015 and June 2020 he was Minister of Finance for the two PS Governments led by António Costa. He was elected president of the Eurogroup, the group of finance ministers in the euro zone, and took Portuguese public accounts to the first positive balance in democracy, more specifically since 1973.

However, his path was also controversial (in 2017, the case of SMS exchanges with the manager António Domingues, of Caixa Geral de Depósitos, which led to a parliamentary inquiry commission, and more recently with the Prime Minister on the injection of capital into Novo Banco) and his departure was criticized by political quarters who accused him of abandoning the boat in the middle of the storm caused by the covid-19.

IM (JE / PMF) // MSF

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