ZeroHedge – Portugal Is Not Fixed: Banco Espirito Santo Bonds Collapse To Record Lows – 14 july 2014

ZeroHedgePresented with little comment aside to remind the gung-ho stock-buyers who have been convinced (because the mainstream media has moved on from Banco Espirito Santo contagion concerns) that Portugal is anything but fixed. No government bailout coming means bail-ins and bail-ins means confiscation… Banco Espirito Santo bonds are collapsing today… down almost 8 points as they know this doesn’t end well.

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