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Portugal: 4.9 bln euro bailout for Banco Espirito Santo – economy
Portugal has injected almost 4.9 billion euros into one of the country’s biggest lenders Banco Espírito Santo (BES) to prevent it collapsing.
Carlos Costa, governor of the Bank of Portugal, said the bank’s healthy businesses would be spun off into a “good” bank, while its toxic assets would be hived off into a “bad” bank.
Costa told a news conference that there had been, “a very high risk of contagion that put into question the stability of the national financial system. The Bank of Portugal d…
READ MORE : http://www.euronews.com/2014/08/04/portugal-49-bln-euro-bailout-for-banco-espirito-santo
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