The collapse of two banks in the United States is a cause for concern, but does not deter North American investors interested in Portugal, Secretary of State for Internationalization Bernardo Ivo Cruz told Lusa.
The official was speaking in the context of the balance of his first official visit to Texas, having visited Austin, where South by Southwest (SXSW) takes place, and Houston.
“It was a concern for US investors,” said the secretary of state. “When we had discussions with investors at the beginning of the visit, Silicon Valley Bank (SVB) had just gone bankrupt,” he explains.
The bank’s collapse, which accompanied the closure of Signature Bank, sparked alarm this week over fears of contagion in the financial system. The situation prompted 11 banks to organize on Thursday to bail out the First Republic bank and send a sign of confidence.
Source: DN
