Portugal is next trouble spot

Fixed income specialist says Portugal will soon be exposed as most unstable region.

Mark Holman, managing partner of TwentyFour Asset Management, warned Portugal, rather than Greece or Italy, was in the most ‘worrying’ position. The fixed income specialist said Portugal could fail the Troika tests on inspection next month after a deficit of €1.2bn was found. Speaking at the Gemini Investment Management Roadshow, he said: “They found a €1.2bn hole, where they overspent or under-budgeted. We are not sure what it was, but it is a hole and it is worrying and will be exposed fairly shortly.” Greece and Ireland are currently in more stable positions, said Holman.  Ire...