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Europe News Portugal


  • European bonds: It's every country for itself now Thursday, 16 Oct 2014 | 1:32 PM ET
    A visitor walks beneath a display at the Athens Stock Exchange, Oct. 15, 2014.

    After more than a year of interest rates across Europe moving lower in lockstep, the last 24 hours show a breakdown.

  • Leaders of Portugal's bailed-out Novo Banco quit Saturday, 13 Sep 2014 | 2:16 PM ET

    The rebuilding of Portugal's Novo Banco - the successor to Banco Espirito Santo (BES) after a state rescue last month - was dealt a blow on Saturday.

  • Portugal bites the bullet on a bank bailout Monday, 4 Aug 2014 | 10:05 AM ET

    Portugal bailed out Banco Espirito Santo (BES), its biggest bank. Get used to seeing this.

  • Pedestrians carry umbrellas past an Banco Espirito Santo SA branch in Lisbon, Portugal.

    The $6.6 billion bailout of Portugal’s largest bank poses a warning on exposure to “fragile” emerging markets, analysts have cautioned.

  • Portugal rescues Banco Espirito Santo for $6.6 billlion

    They are going to split this bank up into two banks - the "good" bank and the "bad" bank, reports CNBC's Michelle Caruso-Cabrera on the rescue of Portugal's biggest bank.

  • Is Portugal heading for a debt restructuring? Monday, 4 Aug 2014 | 4:20 AM ET
    Is Portugal heading for a debt restructuring?

    Edward Hugh, independent economist, says that the Banco Espirito Santo bailout raises the question of whether a debt restructuring will be needed and who would be "carrying the can".

  • Portugal's banks: More skeletons in the closet? Monday, 4 Aug 2014 | 2:10 AM ET
    Portugal's banks: More skeletons in the closet?

    Antonio Barroso, senior vice president at Teneo Intelligence, and Steen Jakobsen, chief economist at Saxo Bank, discuss whether there is more trouble ahead for Portugal's banking sector.

  • Portugal in $6.6B rescue of Banco Espirito Santo Sunday, 3 Aug 2014 | 8:05 PM ET

    Portugal will spend 4.9 billion euros ($6.58 billion) to rescue its largest listed bank, testing the euro zone's resilience to another banking crisis.

  • How a Portuguese banking mess took down a dynasty Wednesday, 30 Jul 2014 | 9:23 AM ET
    Ricardo Salgado, chief executive officer of Banco Espirito Santo SA.

    The Espirito Santo dynasty totters amid a financial scandal that's threatened to re-ignite Europe's financial crisis. Global Post reports.

  • BES issues do not threaten financial stability: PIMCO

    Philippe Bodereau, global head of financial research at PIMCO, says the problems associated with Banco Espirito Santo do not threaten the financial stability of euro zone banks.

  • How the 'Teflon euro' has stayed resilient Monday, 21 Jul 2014 | 11:34 AM ET
    Mario Draghi

    The euro has remained stubbornly strong amid a slew of obstacles, and some analysts said the European Central Bank has kept it higher.

  • Espirito Santo group seeks creditor protection Friday, 18 Jul 2014 | 5:15 PM ET
    Espirito Santo International is the parent company of several institutions, including Banco Espirito Santo.

    Portugal's Espirito Santo International, holding company of Banco Espirito Santo, said it has filed for creditor protection.

  • Espirito Santo: 'Not a systemic situation' Wednesday, 16 Jul 2014 | 4:20 AM ET
    Espirito Santo: 'Not a systemic situation'

    Alberto Gallo, head of European macro credit research at RBS, discusses the financial difficulties the Espirito Santo family of companies is facing and says that it is not a systemic situation for Portugal.

  • Portugal Telecom: Debtor default to derail merger? Wednesday, 16 Jul 2014 | 1:10 AM ET
    Portugal Telecom: Debtor default to derail merger?

    Otto Dichtl, managing director at Stifel Nicolaus, comments on Portugal Telecom, as reports indicate that one of the holding companies of the Espirito Santo family, Rioforte, could fail to repay its debt.

  • Global flash points Monday, 14 Jul 2014 | 7:36 AM ET
    Iraqi Shiite men brandish their weapons as they show their willingness to join Iraqi security forces in the fight against jihadist militants who have taken over several northern Iraqi cities, on June 18, 2014, in the capital Baghdad.

    Robert Hormats, Kissinger Associates vice chairman, shares his thoughts on the escalating violence in the Middle East, and weighs in on the challenges ahead for China, Brazil and Portugal.

  • Not a good weekend for US foreign policy Monday, 14 Jul 2014 | 7:34 AM ET
    Not a good weekend for US foreign policy

    CNBC's Michelle Caruso-Cabrera reports on the ripple effects of global unrest.

  • Portuguese debt to drop 70%: Pro Monday, 14 Jul 2014 | 2:53 AM ET
    Portuguese debt to drop 70%: Pro

    David Salanic, founder of Tortus Capital, discusses Portuguese government bonds and explains that they could go down 70 percent.

  • Should you short Portugal? Monday, 14 Jul 2014 | 2:40 AM ET
    Should you short Portugal?

    David Salanic, founder of Tortus Capital, explains that he's been short on Portugal for over a year and says that it will be "very difficult" for the country to cut its deficits further.

  • Treasury prices rally on Fed hopes, Portugal woes Friday, 11 Jul 2014 | 1:10 PM ET
    Traders work in the S&P 500 options pit at the Chicago Board Options Exchange

    U.S. Treasury prices continued to rally on future Fed action and safe-haven demand stemming from worries about Portugal's biggest listed bank.

  • Tension for Europe's banking Friday, 11 Jul 2014 | 9:47 AM ET
    Tension for Europe's banking

    CNBC's Steve Sedgwick provides insight to the potential default at Banco Espirito Santo, and real worries of a domino effect around the world.