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Portugal's BES insists family losses will not put bank at risk
Losses on loans to the troubled business empire of its founding family will not put Banco Espirito Santo at risk of running short of capital, the bank said on Thursday night. Shares in Portugal's largest listed bank were suspended on Thursday after plunging as much as 19 percent in morning trading amid fears about its exposure to companies in the wider group controlled by the powerful Espirito Santo clan. The ripples of the crisis extended to other vulnerable euro zone countries. Spain's Banco Popular called off a 750 million euros (£595.55 million) bond issue, and Greece managed to place just half of a ... (full story)
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