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Banif blues

21 December 2015 By Neil Unmack, Fiona Maharg-Bravo

Its taxpayers will stump up 3 bln euros, or 1.7 pct of GDP, to wind down troubled lender Banif. The move follows a flawed 2013 rescue. The new plan resolves the issue. But it also shows Portugal’s economic weakness and the difficulty of making creditors pay for bank failures. 

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