Portugal Research Paper
Portugal
Portugal is a country on the Iberian Peninsula in South Western Europe. It largest city is Lisbon which is also the capital city. The official language is Portuguese and the population is increasing just over ten million. Portugal has a unitary semi-presidential republic (Assembly of the republic).
Portugal is an integral part of PIGS – which is a particular economic group in the Euro Zone.
Geographic Location:
Portugal is located on the western coast of the Iberian Peninsula and plateau, that divides the inland Mediterranean Sea from the Atlantic Ocean. It is located on the Atlantic coast of this plateau, and crossed by several rivers which have their origin in Spain.
Economic History:
Portugal was once the …show more content…
However, in recent years it has suffered from sluggish to negative growth, a ballooning budget deficit, and low productivity and competitiveness, which, exacerbated by the onset of the euro zone debt crisis, led to record-high spreads on sovereign debt and downgrades in credit ratings. On May 3, 2011, Portugal’s Socialist caretaker government reached agreement with the European Commission, European Central Bank, and International Monetary Fund (IMF) on a €78 billion (approx. $111 billion), 3-year bailout package that required Portugal to implement comprehensive austerity measures, including privatization of state-owned enterprises and measures to reform its labor market and justice …show more content…
Portugal's subsequent entry into the EU brought exchange rate stability, lower inflation, and lower interest rates. Over the past two decades though, successive governments have privatized many state-controlled firms and liberalized key areas of the economy, including the financial and telecommunications sectors. The country qualified for the Economic and Monetary Union (EMU) in 1998 and began circulating the euro in January 2002 along with 11 other EU members. The economy had grown by more than the EU average for much of the 1990s, but fell back in 2001-08, and contracted 2.5% in 2009, before growing 1.3% in
Portugal is a country on the Iberian Peninsula in South Western Europe. It largest city is Lisbon which is also the capital city. The official language is Portuguese and the population is increasing just over ten million. Portugal has a unitary semi-presidential republic (Assembly of the republic).
Portugal is an integral part of PIGS – which is a particular economic group in the Euro Zone.
Geographic Location:
Portugal is located on the western coast of the Iberian Peninsula and plateau, that divides the inland Mediterranean Sea from the Atlantic Ocean. It is located on the Atlantic coast of this plateau, and crossed by several rivers which have their origin in Spain.
Economic History:
Portugal was once the …show more content…
However, in recent years it has suffered from sluggish to negative growth, a ballooning budget deficit, and low productivity and competitiveness, which, exacerbated by the onset of the euro zone debt crisis, led to record-high spreads on sovereign debt and downgrades in credit ratings. On May 3, 2011, Portugal’s Socialist caretaker government reached agreement with the European Commission, European Central Bank, and International Monetary Fund (IMF) on a €78 billion (approx. $111 billion), 3-year bailout package that required Portugal to implement comprehensive austerity measures, including privatization of state-owned enterprises and measures to reform its labor market and justice …show more content…
Portugal's subsequent entry into the EU brought exchange rate stability, lower inflation, and lower interest rates. Over the past two decades though, successive governments have privatized many state-controlled firms and liberalized key areas of the economy, including the financial and telecommunications sectors. The country qualified for the Economic and Monetary Union (EMU) in 1998 and began circulating the euro in January 2002 along with 11 other EU members. The economy had grown by more than the EU average for much of the 1990s, but fell back in 2001-08, and contracted 2.5% in 2009, before growing 1.3% in