Portugal splits up its largest and oldest bank in emergency rescue plan
Автор: euronews
Загружено: 2014-08-03
Просмотров: 749
Описание:
Portugal is to bailout its largest listed bank to the sum of 4.9 billion euros.
The rescue of Banco Espirito Santo or BES follows a weekend of talks between Portuguese and European Union officials and comes after it posted a record half-year loss of nearly 3.6 billion euros.
The upshot is the bank will be split into two: a so-called 'good bank' and a 'bad bank.'
The Governor of the Bank of Portugal, Carlos Costa explained the plan:
"A new bank, named Novo Banco, has been born. The healt…
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