Government negotiates loan for injection into Novo Banco

The PS government is trying to arrange finance so that the Resolution Fund can channel another tranche of money into Novo Banco. The bank that emerged from the BES debacle has asked for €600 million this year (when the State Budget only allowed for €475 million). The government apparently seems prepared to spend €400 million, but first it has to raise it. Bloco de Esquerda has said Novo Banco should get another cent.