Novo Banco was “packaged like a yoghurt”, Youtube video exposes the folly of Portugal’s banking experiment

A must-see video, narrated in English, has been publicised by Visão magazine as the perfect way to describe what really happened (and continues to happen) post BES banking collapse. The good bank Novo Banco – a bride waiting for her suitor – “has been left at the altar” because Governor of the Bank of Portugal Carlos Costa treated her “like a yoghurt”. For this priceless six-minute lesson, see the video below.