Portugal a Contagion Fear - or Maybe Not

There's nothing to worry about. Portugal's central bank and BES—that's Banco Espirito Santo, the bank at the centre of the latest euro zone debt scare—have both moved to comfort investors with that message. The Bank of Portugal said it had been reassured that BES had sufficient capital—and that BES depositors ''can be calm''. While, separately, BES insisted it has around twice the capital needed to cover its current exposures.

Advertisement—Continue Reading Below