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EU Commission

World news about “EU Commission” published by euronews.

04/08 04:10 CET

Portugal splits up its oldest bank in emergency rescue plan

Portugal splits up its oldest bank in emergency rescue plan

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…