The appointment of Álvaro Santos Pereira as governor of Banco de Portugal (BdP) has sparked concerns about political independence, according to Livre deputy Patrícia Gonçalves. Speaking at the Assembleia da República, Gonçalves remarked, “This seems to be a political appointment for a position that demands independence from political power.”
“Álvaro Santos Pereira was the Minister of Economy during the ‘Passos’ era, in the time of the ‘troika’, and we are worried about the return of a former minister of Passos in this appointment as BdP governor, by a government taking steps backwards,” she stated.
Gonçalves also expressed gratitude to Mário Centeno for his work at the BdP, noting his “technical capability and political influence were certainly important for the country” and highlighting that his term was the “shortest” for a BdP governor in the last 30 years.
In contrast, Paula Santos, parliamentary leader of the PCP, criticized the BdP for operating “as if it were a subsidiary of the European Central Bank (ECB)” and for not opposing “harmful decisions” made in Frankfurt.
“Observe the fact that the BdP did not intervene to address and confront the extraordinary profits banks have had in recent years in our country, particularly concerning bank fees,” she criticized.
Within this context, Santos deemed the choice of Álvaro Santos Pereira as not indicating a break from this path, recalling that the new BdP governor was a “minister during the ‘troika’ period, with the consequences it had for impoverishment” of the country.
“We do not believe Álvaro Santos Pereira will adopt a position imperative for defending the national interest, our sovereignty, and what should be our developmental choices,” she indicated.
PAN spokesperson Inês Sousa Real stated that Santos Pereira’s appointment to the BdP shows that “Luís Montenegro cannot escape this vicious cycle of recycling ministers from the ‘troika’ era and from Passos Coelho’s time.”
“We regret that he does not have the foresight to bring new policies, instead opting for policies that the Portuguese are tired of,” she said, noting the irony of the PSD criticizing Mário Centeno’s appointment for “politicizing the role” of BdP governor and now “bringing someone from politics for that same position.”
Sousa Real acknowledged that Santos Pereira’s resume “speaks for itself and is free from criticism,” but pointed out that the problem with his appointment lies in the policies he advocates, reiterating that the Portuguese do not want to “return to austerity policies.”
Economist Álvaro Santos Pereira was appointed today as the governor of Banco de Portugal (BdP), succeeding Mário Centeno, announced by the government.
The decision was made in the Council of Ministers meeting today and was announced at the end, in a press conference, by the Minister of Parliamentary Affairs, António Leitão Amaro.
Álvaro Santos Pereira served as Minister of Economy and Employment from 2011 to 2013 in the government of Pedro Passos Coelho (PSD/CDS-PP) and is currently the Chief Economist at the Organisation for Economic Co-operation and Development (OECD).
