First Italy, Now Portuguese Banks “Unexpectedly” Need A Taxpayer Bailout

– First Italy, Now Portuguese Banks “Unexpectedly” Need A Taxpayer Bailout:

Portuguese banks, already undercapitalised and loaded with bad debt, are bracing for heavy losses from Lisbon’s so far unsuccessful attempts to sell Novo Banco, the lender salvaged from the collapse of Banco Espírito Santo.

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