At a public presentation in Coimbra, Paulo Raimundo of the Portuguese Communist Party criticized the lack of accountability in the sale of Novo Banco to a French group. He highlighted the use of eight billion euros from public funds to cover a deficit at Banco Espírito Santo (BES), which was followed by an American fund acquiring the bank purportedly for one billion euros without investing a cent themselves.
Raimundo pointed out that despite not contributing financially, the American fund reaped 1.7 million euros in daily profits from the deal before selling the bank to a French fund. “We paid eight billion euros from our pockets and see almost nothing in return,” he stated, describing the deal as another misuse of public resources.
Raimundo expressed surprise that the political party Chega did not seize the opportunity to initiate an inquiry into this financial debacle. Instead, they focused on other matters, which he believes reveals their priorities as being aligned with populist agendas.
Throughout his speech, Raimundo emphasized that the Portuguese Constitution requires enforcement rather than revision, citing articles related to housing, healthcare, family, and peace. He specifically called for the upholding of Article 46, which prohibits violence and fascist ideologies, while a crowd of over a hundred attendees chanted in support of democracy and against fascism.
The event also featured Francisco Queirós, the Democratic Unity Coalition’s candidate for the Coimbra Municipal Chamber, who proposed initiatives focusing on municipal workers’ rights, green spaces, public transport, and mobility. The presentation was preceded by a march through Coimbra’s streets, where participants chanted slogans advocating for increased wages, cultural rights, and public ownership.
