Sunday

11th Dec 2016

Ticker

Commission allows Portuguese bank recapitalisation

The European Commission authorised Wednesday a €5.1 billion public recapitalisation of the Portuguese state-owned bank Caixa Geral de Depositos (CGD). The bank will receive €2.7 billion from the government, which will also convert CGD bonds it owns into shares, and transfer shares to the bank. The commission said the recapitalisation would not be considered state aid because the government can expect high returns from markets.

News in Brief

  1. Council of Europe critical of Turkey emergency laws
  2. Italian opposition presses for anti-euro referendum
  3. Danish MP wants warning shots fired to deter migrants
  4. Defected Turkish officers to remain in Greece
  5. Most child asylum seekers are adults, says Denmark
  6. No school for children of 'illegal' migrants, says Le Pen
  7. Ombudsman slams EU Commission on tobacco lobbying
  8. McDonald's moves fiscal HQ to UK following tax probe

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