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bailout

August 4, 2014

Portugal’s government has announced a €4.9 billion plan to save family-controlled Banco Espirito Santo, the country’s largest listed bank, after a series of financial scandals threatened to run the 94-year-old lender into the ground. 

Portugal’s government has announced a €4.9 billion plan to save family-controlled Banco Espirito Santo, the country’s largest listed bank, after a series of financial scandals threatened to run the 94-year-old lender into the ground.

But while taxpayers and senior creditors will be protected in the package, shareholders, particularly the Espirito Santo family, and junior bondholders will be left with toxic assets.

March 18, 2013

Just when you thought it was safe to go back into the market, a shark has been found swimming off the Cyprus coast.

Just when you thought it was safe to go back into the market, a shark has been found swimming off the Cyprus coast.

To be more precise, the decision of the Cypriot government to levy a tax on local bank deposits has reminded investors of the delicate state of Europe’s finances.

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