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Portugal reaches deal on €78bn bail-out – today’s papers

by: IFAonline
  • 04/05/2011
  • 0
Portugal reaches deal on €78bn bail-out – today’s papers
Portugal's caretaker prime minister Jose Socrates has announced he has reached agreement on a bail-out from the EU and the International Monetary Fund.

He said the three-year loan was a “good agreement that defends Portugal”.

His office says that Portugal will be asking for financial assistance worth 78bn euros ($116bn; £70bn). MORE…

Barclays, Royal Bank of Scotland and Goldman Sachs are among the top banks being sued for $2.2bn (£1.3bn) by the trustee for Thornburg Mortgage Inc, the bankrupt US lender. MORE…

The US Justice Department has sued Deutsche Bank for more than $1bn (£600m) for defrauding the government. MORE…

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