Brussels, 16/11/2015 (Agence Europe) - In its capacity as single supervisor within the framework of banking union in the eurozone, the ECB on Sunday 15 November instructed the Portuguese bank Novo Banco, which rose in 2014 from the ashes of the bailout of Banco Espirito Santo (BES), to plug a capital gap of €1.4 billion.
Novo Banco, which incorporates the healthy assets of BES, has two weeks to present a recapitalisation plan and nine months to bring it to fruition. This is a considerable...