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Portuguese bankers see nervousness rising among EU savers - FT

FXstreet.com (Barcelona) - According to an article published in the Financial Times over the weekend, Portuguese bankers urged EU officials to weigh their words when it comes to problems in the Eurozone peripheral countries, as rash statements could further undermine the confidence of savers.

Top Portuguese bankers told the FT that the clumsy way the Cyprus crisis had been handled alarmed bank depositors in the euro area. “Most clients in Portugal don’t trust deposit guarantees and they have no means to open accounts abroad. They choose vaults instead,” one of the interviewees said.

The Portuguese financial sector is still struggling under the weight of bad loans, diminishing growth, and increasing unemployment. Should it come under more pressure, it might require further aid.

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