| Author (Person) | Wise, Peter |
|---|---|
| Series Title | Financial Times |
| Series Details | 3.11.08 |
| Publication Date | 03/11/2008 |
| Content Type | News |
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Portugal’s Socialist government announced on the 2 November 2008 plans to nationalise a local bank Banco Português de Negócios that had run up accumulated losses of €700m and faces an 'imminent breakdown' of its ability to meet payments. The government said it would also make up to €4bn available to other Portuguese banks to strengthen their capital ratios, in line with state-backed recapitalisation programmes recently announced in several other countries. The funds would be provided in the form of preference shares. |
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| Countries / Regions | Portugal |
