The Portuguese PSI 20 stock index has been down over 4% today after the shocking Banco Espirito Santo H1 results that came after the European close yesterday.
As you can imagine the shares opened up massively down this morning but have staged a mild recovery
Banco Espirito Santo 31 07 2014
Even with recapitalisation issues the Bank of Portugal have got more than enough in their recap fund but governor Carlos Costa only wants to use that as a very last resort.
