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Portugal Will Not Renege On Novo Banco Commitments - Finance Minister

2020-12-30T05:42:31Z

DannielleBloch8: Created page with " By Sergio Goncalves LISBON, Nov 27 (Reuters) - Portugal's finance minister said on Friday the state would comply with all its commitments related to Novo Banco aft..."

By Sergio Goncalves LISBON, Nov 27 (Reuters) - Portugal's finance minister said on Friday the state would comply with all its commitments related to Novo Banco after opposition parties blocked a 476 million euro ($567.53 million) capital injection for the lender next year. Novo Banco, which emerged from the collapse of Banco Espirito Santo (BES) in 2014, is 75% owned by U.S. private equity firm Lone Star and 25% by the state-backed Portuguese Resolution Fund. Under the contract agreed on its sale to Lone Star in 2017 the Resolution Fund must inject up to 3.9 billion euros if certain losses occurred from the sale of [http://www.ourmidland.com/search/?q=toxic%20assets toxic assets] inherited from the collapsed BES. Loss-making Novo Banco has been offloading bad loans, real estate and non-core assets under restructuring commitments agreed with Brussels and [https://kynghidongduong.vn/blog/le-hoi-hoa-tam-giac-mach-ha-giang-va-nhung-diem-check-in-voi-hoa-dep-nhat.html kynghidongduong.vn] the Resolution Fund has already injected almost 3 billion euros into the bank to cover those losses. In its [http://www.ehow.com/search.html?s=annual%20budget annual budget] for 2021, [https://kynghidongduong.vn/blog/le-hoi-hoa-tam-giac-mach-ha-giang-va-nhung-diem-check-in-voi-hoa-dep-nhat.html hà giang] submitted to parliament on Thursday, [https://kynghidongduong.vn/blog/le-hoi-hoa-tam-giac-mach-ha-giang-va-nhung-diem-check-in-voi-hoa-dep-nhat.html hoa tam giác mạch] the government had proposed that the Resolution Fund inject a further 476 million euros into Novo Banco next year but the proposal was rejected by the centre-right main opposition Social Democrats and hard left lawmakers. Social Democrat leader Rui Rio, however, told reporters that his party would vote in favour of this new capital injection if a pending audit shows it is fair and correct. Finance Minister Joao Leao said the state would meet its obligations to the bank. "Portugal will meet, as it has always done, its commitments assumed regarding Novo Banco," Leao said in a short statement sent to Reuters without providing further details. Prime Minister Antonio Costa tweeted later on Thursday that he had called European Central Bank President Christine Lagarde to assure her of Portugal's "full compliance with the commitments undertaken in the framework of Novo Banco's sale". Opposition parties fear Novo Banco could be benefiting Lone Star by selling it discounted non-performing assets, which inflated Novo Banco's losses. The bank and Lone Star have denied this. Novo Banco said it "has fulfilled and continues to fulfill all of its commitments" and believes that the Portuguese Resolution Fund will also comply with its obligations, as it has done in the past 3 years. "Novo Banco's good liquidity position allows the bank to continue to support the Portuguese economy, its corporate as well as retail customers", the bank said in a statement. ($1 = 0.8387 euros) (Reporting by Sergio Goncalves; Editing by Andrei Khalip, Susan Fenton and Louise Heavens)

User:DannielleBloch8

2020-12-30T05:40:21Z

DannielleBloch8: Created page with "I am Jarrod from Coppet. I love to play French Horn. Other hobbies are Inline Skating. my homepage; [https://kynghidongduong.vn/blog/le-hoi-hoa-tam-giac-mach-ha-giang-v..."

I am Jarrod from Coppet. I love to play French Horn. Other hobbies are Inline Skating. my homepage; [https://kynghidongduong.vn/blog/le-hoi-hoa-tam-giac-mach-ha-giang-va-nhung-diem-check-in-voi-hoa-dep-nhat.html hoa tam giác mạch]

Belgium Must Be Wary Of Danish Threat Says Courtois

2020-12-30T05:07:43Z

DannielleBloch8:

Nov 17 (Reuters) - Belgium goalkeeper Thibaut Courtois has warned their supporters not to expect a routine win for [https://kynghidongduong.vn/blog/le-hoi-hoa-tam-giac-mach-ha-giang-va-nhung-diem-check-in-voi-hoa-dep-nhat.html kynghidongduong.vn] the top-ranked team when they host Denmark in the Nations League on Wednesday. Belgium need only draw to ensure their place in the final four next October after beating England 2-0 in Leuven on Sunday in an impressive display of their potential. Yet the Real Madrid [http://www.google.de/search?q=goalkeeper%20cautioned goalkeeper cautioned] against high expectations for the visit of the Danes, [https://kynghidongduong.vn/blog/le-hoi-hoa-tam-giac-mach-ha-giang-va-nhung-diem-check-in-voi-hoa-dep-nhat.html hoa tam giác mạch] who must win if they are to top the group instead. "We must not think that we will just pitch up and win," Courtois told a news conference on the eve of the match at Leuven, [https://kynghidongduong.vn/blog/le-hoi-hoa-tam-giac-mach-ha-giang-va-nhung-diem-check-in-voi-hoa-dep-nhat.html hoa tam giác mạch] some 30km from Brussels. "We will have to show it on the field again. It is exactly a sort of final, we must have that fixed in our heads. Denmark are a good team, they won in England (last month). They´ve got a host of players who play in the Premier League, Bundesliga and La Liga. "We will be keen to show what we can do but it won´t be easy, A three or 4-0 is out the question." Belgium were in a similar position two years ago in the inaugural edition of the Nations League, going into their last game at Switzerland. "We were 2-0 up after 10 minutes and probably thought we had won it already. That was a mistake. But we learnt from it. Of that I´m sure," Courtois said of the 5-2 defeat that saw the Swiss reach the final tournament in Lisbon instead. (Writing by Mark Gleeson; Editing by Toby Davis)