More trouble in the eurozone? You can bank on it

The woes of Portuguese bank Banco Espirito Santo have renewed fears about the structural weaknesses of the European banking system, which will remain a source of vulnerability until the ECB takes definitive action.

The suspension of shares in a relatively minor Portuguese bank sent tremors through global credit and equity markets overnight. It's a useful reminder that risk hasn’t disappeared from the global financial system and that the eurozone remains the most likely source of any fresh disruption.

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