Episode 3

Ricardo Salgado watches time slip away. But on December 31, 2013, he receives an invaluable gift: a sovereign guarantee signed by the president of Angola, covering the millions of dollars that had disappeared in Luanda. BES seems to be saved. However, the Bank of Portugal has doubts and simultaneously demands a record capital increase in the history of the Portuguese banking system: 1.045 billion euros. The Espírito Santo Group’s overall debt continues to grow. At the bank branches, unrest increases. On television, everything is said to calm the public: BES is not at risk. But is it really?