Novo Banco “loses €1.4 million per day” as Lone Star deal remains unsigned

With the Lone Star ‘deal’ over Novo Banco still to be ratified click here, the situation at the ‘good bank’ is going from bad to worse. According to reports, daily losses in the first three months of 2017 reached €1.4 million per day. Taking deposits, shares and insurances, financial journalists claim the bank has lost €1.3 billion compared to “what it had registered at the end of 2016”.

Meantime, American television news channel CNBC has carried an interview with Ricardo Santos Silva of the British-based ‘vulture fund’ that claims to be offering so much more than Lone Star saying he does not understand why the Bank of Portugal and Portuguese government are not taking them seriously.

To see the interview, click here