Portugal holds 382 tonnes of gold, the 14th largest holding in the world, and more than either Britain or Spain.
I’m not sure how much 382 tonnes of gold is worth but I would think quite a lot – and given that creditors have more or less seized 75% of the gold reserves held by Cyprus recently ……
3 replies on “Slides from Gaspar Talk on Portugal”
More carnage for Cyprus
http://ftalphaville.ft.com/2013/04/10/1456542/the-eurozones-second-sovereign-restructuring/
Portugal holds 382 tonnes of gold, the 14th largest holding in the world, and more than either Britain or Spain.
I’m not sure how much 382 tonnes of gold is worth but I would think quite a lot – and given that creditors have more or less seized 75% of the gold reserves held by Cyprus recently ……
Some less optimistic take on Porrugal’s experience here http://podcast.ft.com/pop_up_player.php?pid=1793