French government steps in to aid ailing CIF bank

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The French government has come to aid of the ailing CIF bank.

The bank failed to find a buyer after being up for sale since May.

The state decided to step in after credit-ratings agency Moody's downgraded the lender.

CIF, which specialises in loans to the less affluent, hit the skids when cheap funding from the credit markets ended.

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http://www.euronews.net/

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