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|LISBON nmd xr1 rose gold , July 16 (Xinhua) -- Portuguese bond yields fell on Wednesday, an optimistic sign of investors' confidence despite the country recently being hit by financial turmoil caused by Portugal's leading private bank Banco Espirito Santo (BES) which covered its financial hole.
Portugal emitted Wednesday 1.25 billion euros in six and 12-month treasury bonds, according to national debt agency IGCP, with the average interest rates on short-term bonds at 0.243 percent and 0.453 percent on long-term bonds.
Earlier this week European stocks stumbled after it emerged that the bank's overall holding company, Espirito Santo International (ESI) was covering a hole of at least 1 billion euros in its accounts.
The BES bank's shares had their worst day of the year and its only banking dynasty lost control of the bank, with the family selling a fifth of its 25 percent stake on Monday and its chief executive Ricardo Salgado adidas nmd runner pk , the great-grandson of the banks' founder, stepping down.
Amilcar Morais Pires, former chief financial officer at BES, was expected to be Salgado's successor but on Tuesday he also abandoned the bank.
The European Markets are now benefitting from easing tensions in Portugal after the bank assured it has enough financial reserves of more than 2 billion euros to deal with negative fallout.
Last Friday Prime Minister Pedro Passos Coelho told holders they could trust the bank and said he had no doubts regarding the Portuguese financial system's "tranquillity", adding that tax-payers would not have to bear the losses of private companies.
The bank's new chief executive, Vitor Bento http://www.nmdsaleuk.com/ , on Tuesday promised the start of a "new chapter," vowing to "recapture the confidence of the markets," in a note sent to his 10,000 employees.
Carlos Costa, director of the Bank of Portugal, the country's central bank adidas nmd womens uk , also reassured investors that they wouldn't have to bear the bank's troubles.
"If any additional capital is necessary, because of risks which in this current moment are not visible, there are for sure shareholders interested in participating in BES'capital increase," he told national broadcaster TVI.
The crisis, however, is likely to have tanished Portugal's image adidas nmd sale , after the country emerged in May from a 78-billion-euro bailout it had signed with its international lenders in 2011.
Analysts still warn that the Portuguese market is now more vulnerable and point to a lack of transparency.
"Investors are rightly concerned as to how issues at BES may impact not only the bank, but also the sector and indeed the wider Portuguese economy as a whole, but let's face it, this is nothing new," Joao Monteiro, Valutrades analyst adidas nmd uk , told Xinhua, adding that the same group was approaching default in 2008, which was averted following aggressive interventions.
He adds: "The real concern this time round is the genuine lack of transparency."
He said the best solution for the market would be either taxpayer intervention or for the bank to be nationalized."Whether this is possible is a different matter altogether," he said.
Economist Joao Cantiga Esteves told Xinhua: "This problem could have been solved weeks ago, but it seems they are now on the right track and what is most important now is to assure that such an important bank finds balance."
"Investors are worried, they took too long to find a solution and to take measures for a new administration. They could have speeded up themselves rather than waiting for the Central Bank to organize the reshuffle."
The Bank of Portugal has maintained that the bank's solvency is solid after having been reinforced with a recent capital increase http://www.nmdsaleuk.com/nike-cortez-ultra-moire-white-blue-red.html , Cantiga Esteves said, adding it is important for the Central Bank to continue its efforts to isolate the bank from the Espirito Santo family.
"The Central Bank has been for some time trying to assure that the bank is immune and isn't affected by the Espirito Santo family, and took the necessary measures. It is now important to maintain that," he said.
The BES has a shareholder meeting scheduled for July 31 to confirm the new appointments.
LOS ANGELES, April 20 (Xinhua) -- Two U.S. Senators of Hawaii and other politicians on Thursday slammed Attorney General Jeff Sessions over his remarks about a federal judge who halted President Donald Trump's revised travel ban last month.
As one of the most powerful law enforcement officials in the nation,Sessions said in a radio interview Wednesday that he was "really amazed that a judge sitting on an island in the Pacific can issue an order" that stopped President Trump's executive order.
Sessions made these comments after Derrick Watson http://www.nmdsaleuk.com/nike-classic-cortez-sp-nylon-black-white.html , a federal judge in Hawaii, last month issued an order that blocked Trump's ban on travelers from several Muslim-majority countries.
His remarks drew quick criticism nationwide, and his dismissal of Hawaii as "an island in the Pacific" sparked outrage in the state.
Hawaii's Democratic federal senator Mazie Hirono criticized Sessions' dismissal of Hawaii with three tweets in one day.
"Hey Jeff Sessions, this #IslandinthePacific# has been the 50th state for going on 58 years. And we won't succumb to your dog whistle politics," she posted early Thursday, then said hours later that "Hawaii was built on the strength of diversity & immigrant experiences -- including my own. Jeff Sessions' comments are ignorant & dangerous."
Another Hawaii federal senator Brian Schatz slammed Sessions' remark on Twitter as well http://www.nmdsaleuk.com/womens-nike-cortez-classic-nylon-pink-shoes.html , saying that "Mr. Attorney General: You voted for that judge. And that island is called Oahu. It's my home. Have some respect."
Meanwhile, a federal congresswomen from California, Judy Chu, accused Sessions of racial discrimination on her official Twitter account, saying that "When Sessions was nominated, we warned he didn't view all Americans equally" and dismissing Hawaii proved it.
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