Tag Archives: Credit Agricole

Evans-Pritchard Argues that Banco Espirito Santo Was Bailed Out

City of London mouthpiece Ambrose Evans-Pritchard writes that the “rescue” of Portugal’s Banco Espirito Santo was a bail-out and not quite a bail-in, and that European officials backed off on bailing in all creditors and unsecured depositors by their new … Continue reading

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Bail-in Coming in Portugal with Contagion

Portugal’s biggest commercial bank, Banco Espirito Sancto (BES), is roughly a $100 billion bank, not in the trans-Atlantic megabank league, but about the size of the German Landesbanken which started to go insolvent in 2007. BES’s massive $5 billion first-half … Continue reading

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