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Angolan own goal

21 October 2014 By Neil Unmack, George Hay

The bailed-out Portuguese lender has lost 80 pct of a 3.3 bln euro interbank loan to its Angolan arm. Putting banks into national silos is often seen as unwise. But if they are this reckless, pushing them to match assets and liabilities locally isn’t such a bad idea. 

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