On 5 December 1925, the ‘Portuguese Bank Note Bubble’ burst. The Lisbon daily newspaper, O Século (The Century … English security printing company Waterlow and Sons that he was a representative of the Bank of Portugal, and created his own … bank through which he concealed over £3m in counterfeit money.[...] …

Government-nanced bank restructuring programs, occasionally costing up to 50% of GDP,are commonly used to resolve … costs under dierent nancingoptions. In our model bank credit is essential, due to a working capital constraint onrms, and …