The government is expected to make a few long-overdue changes at the top of Caixa Geral de Depósitos with the president of the bank the first out the door.
José de Matos, the current president of the state owned bank should be followed swiftly by Nuno Fernandes Thomaz, his number two.
In addition to the state bank, there are plans afoot to 'let go' the head of state owned Novo Banco when Stock da Cunha’s contract expires this August.
As for the new head of Caixa Geral, alternatives suggested by Portugal's financial media include António Ramalho who heads Infraestruturas de Portugal; the president of the Portuguese Securities Market Commission, Carlos Tavares, and António Castro Guerra, former Secretary of State in the José Sócrates government.
The head of the Bank of Portugal, Carlos Costa, had his contract extended for another five years in 2015 but this does not make him invincible as, having fouled up so many aspects of his job, many see him as almost single-handedly dragging Portugal’s reputation through the mud; thus, a change is needed.
The Prime Minister needs to get the 2016 Budget agreed with Brussels and then it will be time for him to make some changes in these flabby, loss-making public bodies.
Whether appointments simply will be handed out or whether vacancies will be advertised to attract the best-qualifired candidate, remains to be seen.
The thought of anyone having the opportunity to apply for one of these top jobs in Portugal is faintly ridiculous in a country where a selected elite still populate the high echelons and plum posts, whatever party in is power.
