IMF warns of ‘Brexit risks’ for Portugal’s banks

With almost every major financial institution pressing for a brake on Brexit, the IMF has come out this week to say not only would the UK’s departure from the EU damage the global economy, it poses “particular difficulties” for Portuguese and Italian banks. The reasoning centres on the fact that banks in both countries were already suffering ‘unresolved problems’ before the controversial referendum delivered its cataclysmic majority for Out.