In 2011, following years of large-scale external imbalances financed by debt, Portugal’s economy reached a crisis point. To restore economic growth and credibility with international lenders, the country embarked on a difficult path of fiscal adjustment and structural reforms. By many metrics, Portugal’s 2011–14 macroeconomic stabilization program has been a success, but going forward Portugal would benefit from policies to reduce vulnerabilities, absorb labor slack, and generate sustainable growth.

Emerging Europe has suffered a severe economic crisis in recent years, and is only gradually recovering; the prospects for a convergence with the rest of the EU are still uncertain. In this book policymakers, high-level practitioners and experts from central banks identify the main reasons for the crisis and the challenges for the recovery process.

Essay from the year 2014 in the subject Economics - Finance, , course: Economics, language: English, abstract: By late 2007, the first signs of financial bubble collapse, public debt, its servicing and the notorious spreads were not subject to financial markets. Countries having high or low debts used to borrow at low interest rates and were not subject to special assessment procedures. 1999 was the last time that financial markets caused national economies to default. This was the case of the crisis in Southeast Asia. The crisis, however, was combined with the massive exodus of foreign capital from the financial markets in the region, which inevitably led to devaluation of currencies, suspension of borrowing and collapse of their economies. The Greek debt crisis is the most serious financial crisis that appeared in a country member of the Eurozone, and it is thought that it will have serious implications on the stability of the Euro. In this paper, the general economic situations of EU and Greece will be examined to check whether the above assumption is possible.

The preservation of the Monetary Union for Europe is linked to the future of a whole continent. The currency crisis impacts everybody. It is unequivocal that major efforts were necessary to prevent the break-up of the euro area. However, some of the countermeasures led to disagreements and fierce criticism. A long-term solution must be found. Many proposals haven been contributed in order to do so but are they both expedient and agreeable? This publication approaches this question by beginning with a brief theoretical introduction about the fundamental advantages and disadvantages of the Monetary Union. Based on this, the history of the crisis of the euro system is described. It becomes clear that a key problem in finding a solution is the disagreement about the causes of the currency crisis. Further chapters summarize which rescue measures were used and analyze how they are already solving the weaknesses of the euro. Here, the reader will see that there is a long way before the Monetary Union stands on a stable framework. In this book, suggested solutions are discussed and analyzed, before finally a combination of different solutions is emphasized. In this book: - Monetary Union, - Currency Crisis, - Euro Reforms, - History of the euro.

Analyses the concept of convergence of capitalist and socialist economics towards one uniform system, in the light of the events of the period from end-1989 to end-1991.

Did the occurrence of systemic banking crises in the 1990s and 2000s significantly alter the behavior of banks in the Mercosur? The objective of this paper is to answer this question by analyzing changes in bank behavior after crises in the Mercosur region. To our knowledge, this is the first paper to apply the convergence methodology-which is common in the growth literature-to post-crisis bank behavior. Using a panel dataset of commercial banks during the period 1990-2006, we analyze the impact of crises on four sets of financial indicators of bank behavior-profitability, maturity preference, credit supply, and risk. The paper finds that most indicators of bank behavior, such as profitability, in fact revert to previous or more normal levels. However, a key finding of the paper is that private sector intermediation is significantly reduced for prolonged periods of time and that high levels excess liquidity persist well after the crisis.

Research papers on economic policy issues in socialist countries and capitalist countries, with partic. Reference to the USSR - analyses economic implications of Soviet collective farming, and income distribution, inflation, economic growth under Kosygin and Brezhnev, etc.; discusses full employment and productivity in the agricultural sector in socialist countries; considers economic reform in China's industrial sector and the industrial policy of the Netherlands; comments on the economic theory of convergence. Graphs, references.