Novo Banco to get €430 million of the €598 million requested

The ongoing saga of Portugal bailing out Novo Banco continues with the next tranche due to be paid in May calculated at €430 million. This is “not as much as was asked” admits Expresso “but more than parliament authorised” (click here). Portugal has so far bailed Novo Banco out through the Resolution Fund to the tune of €3.4 billion. Under the terms of the ‘deal’ with Lone Star, there is €500 million still to go (click here)