Miguel Joscts Ribeiro Cadilhe, Finance Minister of Portugal, did not consult the foreign bankers last July, before he told them that their minimum capital requirement was raised from $10 to $17 million each – irrespective of assets – and he has refused to see any of them since. Euromoney’s correspondent was the first foreigner allowed to ask him, face to face, why he did it.
Speaking slowly, and in awkward English (though it is a language he knows well), Cadilhe said: “The foreign bankers don’t like our measure.
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