Portugal: the State “will not lose” the 3.9 billion euros lent to banks resolution fund

Page created: Thursday, 23 February 2017 15:20 GMT

CGD   Government  Resolution Fund

The Portuguese prime minister António Costa insisted this Wednesday that the state will not lose the 3.9 billion euros it lent to the banking sector resolution fund for Novo Banco‘s injection. The PM stated that the financial system will cover the difference the sum may raise.

“The state will, in no case, lose 3.9 billion euros or any part” of the amount, said António Costa during the fortnightly debate in Parliament. “This is a loan to the resolution fund and will be borne by the financial system.”