The Bank of Portugal (BdP) will save 2.2 million euros through a retirement agreement with Mário Centeno, considering the amounts he would have been entitled to had he remained at the organization, Governor Álvaro Santos Pereira stated this Friday, March 20. The governor noted that these savings account for salary costs, social security, and other expenses Centeno would have received as an administration consultant until the age of 70. Santos Pereira emphasized that the agreement is a matter of public service and that the pension fund involved is fully capitalized, with no taxpayer money used. Additionally, the governor announced plans to phase out the role of administration consultants to further reduce costs.
Bank of Portugal to save 2.2 million euros with retirement agreement with Mário Centeno, says governor
Friday, 20 March 2026RSS
Context & Explainers
- Governor of Banco de Portugal (2020–present)
- Former: Minister of Finance (2015–2020), President of the Eurogroup (2018–2020)
- Party: Independent (PS-affiliated)
- Background: Economist (PhD, Harvard)
Mário José Gomes de Freitas Centeno (born 1966) is Portugal's central bank governor and one of the country's most internationally recognized economic figures. As Finance Minister under António Costa's first PS government, he became known as "Cristiano Ronaldo of European finance" for turning Portugal's deficit into a surplus while reversing austerity.
He was elected president of the Eurogroup (the informal body of euro area finance ministers) in 2018 — the first Portuguese to hold the role. Since becoming Governor of Banco de Portugal in 2020, he sits on the ECB's Governing Council and oversees Portuguese banking supervision and financial stability.
Álvaro Santos Pereira is a Portuguese economist who served as Minister of Economy from 2011 to 2013. He is a frequent public commentator on economic and public-policy issues and has used X and LinkedIn to call for radical changes to Portugal’s disaster preparedness after recent storms, so residents and policymakers often pay attention to his proposals.
AI Summary AvailableBank of Portugal defends Mário Centeno’s €2.2 million retirement dealRead the synthesized summary with context and explainers
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Other news coverage of this topic
- Mário Centeno's pension. Bank of Portugal says it saves over two million euros • RTP Notícias
- Santos Pereira: agreement with Centeno saves 2 million for the Bank of Portugal • Observador
- Banco de Portugal says it will save 2.2 million euros with Centeno's pension • Público
- Centeno's pension 'is a public service'. Governor guarantees millions in savings with the decision • CNN Portugal
