Banco Espirito Santo: Investors rattled by the eurozone latest financial drama will, however, need more reassurances. , according to Canadian Broadcasting Corporation, CBC. The debt crisis that in recent years battered countries sharing the euro currency, forcing countries such as Greece, Ireland and Portugal to request bailouts, has ebbed in recent months. Investors remain wary, though. They fear more nasty surprises could be around the corner, and the scandal surrounding Banco Espirito Santo huge unreported debts is fueling those concerns. A new Portuguese bank appeared Monday, born from the ruins of a collapsed business empire, and declared on its website that it was now "stronger and safer." Portugal biggest banking scandal, which compelled authorities Sunday to put up 4.9 billion euros $7.2 billion to prevent the collapse of ailing Banco Espirito Santo, raised questions about how regulators were apparently hoodwinked. It will also focus minds on the European Union year-long health check on the banking sector, whose results are due in October.
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