Portugal Continues Political Struggle

Portugal delivered a pleasant surprise on Wednesday, posting the euro zone’s strongest growth in the second quarter, but its political fragility is still concerning analysts.

The peripheral euro zone economy exited recession after two and a half years of contraction in the second quarter of 2013, with a better-than-expected 1.1 percent jump in GDP (gross domestic product) growth. This was fueled in part by improved tourism revenues.

The growth was hailed by the government as vindication of its austerity-based policies – and that government needs a bit of good news after a high-profile squabble last month.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza