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The period from 2010 to 2014 was probably the hardest and more challenging part of the entire economic crisis; this period includes the 2011–14 international bailout to Portugal and was marked by intense austerity policies, more intense than the wider 2001-2017 crisis.
The Portuguese Financial crisis was a major political and economic crisis, related with the European sovereign debt crisis and its heavy impact in Portugal. The crisis started to be noted in the initial weeks of 2010 and only began to fade away with the start of the Portuguese economic recovery in the late 2013.
The Economic Adjustment Programme for Portugal, usually referred to as the Bailout programme, is a Memorandum of understanding on financial assistance to the Portuguese Republic in order to cope with the 2010–14 Portuguese financial crisis.
Portugal still has many tough years ahead. During the crisis, Portugal's government debt increased from 93 to 139 percent of GDP.
To avoid a potentially serious financial crisis for the Portuguese economy, the Portuguese government agreed to provide the two banks with monetary bailouts at a future loss to taxpayers.
Financial crisis. In 2007, when the world was swept with financial crisis, Portugal's economy suffered in several areas. Portugal was plagued with low real GDP growth and borrowing costs, significant deficits, low investment, and high national debt. Additionally, the quick stop of capital flows in Portugal was made easier because of this ...
Known for. Bank fraud. Artur Virgílio Alves Reis [a] ( Lisbon, 8 September 1896 – 9 July 1955) was a Portuguese criminal who perpetrated one of the largest frauds in history, against the Bank of Portugal in 1925, often called the Portuguese Bank Note Crisis .
The Latin American debt crisis (Spanish: Crisis de la deuda latinoamericana; Portuguese: Crise da dívida latino-americana) was a financial crisis that originated in the early 1980s (and for some countries starting in the 1970s), often known as La Década Perdida (The Lost Decade), when Latin American countries reached a point where their ...
In June 2014, the public debt reached 134% of the GDP. [5] After 2014, when the Portuguese economy started recovering and with the end of Troika, the Portuguese debt gradually started decreasing. As of December 2023, it stood at 98.7% of the national GDP, the lowest level recorded since 2009.
2000s European sovereign debt crisis timeline. From late 2009, fears of a sovereign debt crisis in some European states developed, with the situation becoming particularly tense in early 2010. [1] [2] Greece was most acutely affected, but fellow Eurozone members Cyprus, Ireland, Italy, Portugal, and Spain were also significantly affected.