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Portugal: Drama or a crisis?

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July 11, 2014 banco espirito santo, bank, banking, banking crisis, banking equity, banking industry, banking regulation, banking sector, banking system, banks, banks 2014, banks stocks, dax, ecb, ecb policy, equity, equity market, equity markets, equity strategy, equity trading, euro, euro dollar, europe, european central bank, eurozone, forex, forex trading, ftse 100, fx, fx market, fx markets, fx options, fx strategy, fx trade, fx trading, hardy, index, index trading, john hardy, macro, macro economics, macro strategy, mads koefoed, peter garnry saxo bank, portfolio strategy, portugal, portugal bailout, portugal economy, portuguese, saxo tv, shares, stock market, stocks, tradingfloor.com
The shockwaves from the Portuguese banking crisis are still being felt in the markets, an overreaction perhaps? Or are we seeing old wounds within the Eurozone being opened again.
Stock markets around the world were hit as nerves were tested after the parent company of one of Portugal's largest banks failed to meet debt payments. What should have been a relatively small drama threatened to become a wider crisis. A reaction which, for some analysts, demonstrates the weaknesses within the European banking system and the tentative Eurozone economic recovery.

Saxo Bank's Heads of Equity, FX and Macro strategies, Peter Garnry, John Hardy and Mads Koefoed, give their brief assessments of the fall out from Portugal.