Portugal has now maintained a Balance of Payments Surplus for 5 years.
In practical terms it’s money that is coming into to the Country.
With more money in the Country, Portuguese Banks have more deposits.
And that makes banks less dependent of the ECB financing that two or three years ago was twice the current level.
(Bloomberg) — ECB financing to Portuguese lenders fell in
Sept. for the first time since June, the Bank of Portugal says
on its website.
* ECB financing decreased to EU22.75b in Sept. from EU23.59b in
* NOTE: Sept. 12, ECB Financing to Portuguese Banks Rises for