Doubts about the Portuguese Bank have plagued markets for the last three days. 30 minutes ago, shares were suspended.

Portugal’s central bank assured all and sundry that the bank was fine, despite its holding company missing a debt repayment. Shares fell 14% this morning however, and now the suspension of trading has been announced, pending “an announcement”.

This is worse than the Erste Bank profits plunge, which was based on malfeasance: the BES move is about default.

I could be that D-Day has arrived.