Portugal banks at risk unless public spending cut

“Portugal’s central bank said on Tuesday the country’s banks faced an ‘intolerable risk’ unless the government manages to bring its public spending under control as it struggles to combat a debt crisis.

The Bank of Portugal report spelled out a tricky scenario for the banks as concerns grew in markets over the nation’s prospects of avoiding a bailout and thus becoming the next domino to fall in the euro zone.”

(Source: UPDATE 1-Portugal banks at risk unless public spending cut | Reuters)

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