Peter Wise reports on the new laws billed to overcome impediments to investing in Portugal’s debt market.

Millennium BCP’s bid for Banco BPI will make competition in the banking sector even more fierce, even if it fails. Peter Wise reports.

Fernando Teixeira dos Santos, Portugal’s finance minister, tells Peter Wise of his radical public sector reform plans.

The prospect of four years of political stability has helped lift the pessimism that has surrounded Portugal’s economy. Peter Wise explains.

Banks are displaying considerable resilience, with their profits growing, in an economy that is climbing out of recession.By Peter Wise.
Portuguese banks are nothing if not resilient. This will be the fifth year in which the economy has underperformed average EU growth. Recovery since a deep recession in 2003, when GDP growth contracted by 1.1%, has been weak and the outlook for the coming two years is less than buoyant.

Spain’s cajas – non-profit making savings banks – are thriving and have considerable clout in terms of market share. 

Spain’s retail banks are enjoying the fruits of a property boom that began in the late 1990s and is still feeding the mortgage sector. In addition, they are looking to service smaller businesses.

The Banco de España, Spain’s central bank, has been praised for balancing a forward-looking attitude to market liberalisation with a prudent approach to risk management. Governor Jaime Caruana talks to Peter Wise.
Q What are the main drivers for – and possible threats to – medium-term economic growth in Spain?

A The Spanish economy has maintained a pattern of growth in recent years based essentially on domestic consumption and construction.

Audacious moves by Spain’s two giant banking groups will take them into uncharted territory in Europe. Will they keep their thrones?Peter Wise reports.

Peter Wise charts the rise of the Portuguese banking sector since it was opened up to foreign competition.