In April 2017, the unemployment rate was 9.5%, over 8% below the all-time high reached in 2013 though still slightly above the 43-year average since the country became a democracy. Autores: Marcelo Braz Moraes dos Reis Localización: Intervenção social, ISSN 0874-1611, Nº. [20] Meanwhile, the first half of the 2000s also saw the end of the downward trend in the government debt to GDP ratio that marked the 1990s: the ratio rose from 53% in 2000 to 62% in 2004 (the ratio overtook the SGP's arbitrary limit of 60% in 2003). Cara Dolores, Na outra semana eu te falava sobre os efeitos da crise econômica europeia em Portugal. [17] Despite government policies openly aimed to consolidate the Portuguese public finances,[note 1] Portugal was almost always under excessive deficit procedure[note 2] and government debt-to-GDP ratio rose from 50% in 2000 to 68% in 2007 and 126% in 2012. crise económica de 2008-2012 na dinâmica das empresas portuguesas”. O ministro das Finanças argumentou que Portugal está “incomparavelmente melhor dotado do ponto de vista económico e financeiro” para enfrentar uma crise do que em 2008, nas finanças públicas e nas empresas e famílias. [43][44][45] In the grounds of avoiding a potentially serious financial crisis in the Portuguese economy, the Portuguese government decided to give them a bailout, eventually at a future loss to taxpayers. Entenda como a crise de 2008 impactos os países europeus nessa aula. Portugal e Brasil na crise do antigo sistema colonial (1777-1808) by Fernando A. Novais, 1979, Editora HUCITEC edition, in Portuguese sfn error: no target: CITEREFCommission_of_the_European_Communities2005 (, 2011–14 international bailout to Portugal, European Financial Stabilisation Mechanism (EFSM), European Financial Stability Facility (EFSF), Technical document by the Commission Services accompanying the Report on Portugal prepared in accordance with Article 104(3) of the Treaty, "Portugal grows at fastest rate since 2000", "The elections of the Great Recession in Portugal: performance voting under a blurred responsibility for the economy", "Portugal exits bailout poorer and long way from recovery", "Bailout Is Over for Portugal, but Side Effects Will Linger", "Portugal's budget deficit falls to 40-year low at 2.1%", "Portuguese economy grows 2.7% in 2017, the largest growth since 2000", "Portugal entrou em recessão no quarto trimestre de 2002", "Table A.1.1.8 - Gross domestic product at market prices (volume change rate; annual)", "Medidas de austeridade poderão evitar multas por défice excessivo", "Budget, impôts, retraite : la leçon d'austérité du Portugal", "Maddison Project Database, version 2013", "The Mystery of Why Portugal Is So Doomed", "Défice orçamental nacional atingiu os 4,1% do PIB em 2001", Commission of the European Communities 2005, "Programa do Governo para reduzir o défice levanta dúvidas à Comissão", "PEC português foi bem recebido pelo Eurogrupo", "Portugal tem até 2008 para corrigir défice público", "PEC português é hoje aprovado em Bruxelas", "Défice ao valor mais baixo dos últimos 30 anos", "Administrações Públicas: dívida bruta em % do PIB", "Eurostat aceita défice de 2008 registado por Portugal", "Eurostat validou défice de 9,4 por cento do PIB em 2009", "Sócrates dá primeira entrevista após aprovação do pacote de austeridade", "INE corrige o défice de 2010 para 8,6% do PIB", "Portugal fechou 2011 com défice de 4,2% do PIB", "Closed Excessive Deficit Procedures – Portugal", "Portuguese bestselling book recommends leaving the euro", "The Portuguese Slump and Crash and the Euro Crisis", "Expresso | BPN: Oliveira Costa vendeu a Cavaco e filha 250 mil ações da SLN", "Dias Loureiro entre os dirigentes do PSD no processo-crime do BPN", BBC News -Moody's downgrades Portugal debt, "Portuguese parliament votes against austerity plan", "Portugal seeks market access with $5 bln bond exchange", "Data archive for bonds and rates (Ten-year government bond spreads on 30 January 2012)", "Portugal 10-Year Futures Historical Data", https://www.cnbc.com/2017/08/02/how-portugal-came-back-from-the-brink.html, Economic and Monetary Union of the European Union, Post-Napoleonic Irish grain price and land use shocks, 2011 Tōhoku earthquake and tsunami stock market crash, 2015–2016 Chinese stock market turbulence, List of stock market crashes and bear markets, https://en.wikipedia.org/w/index.php?title=2010–2014_Portuguese_financial_crisis&oldid=990814636, Articles containing Portuguese-language text, Articles with unsourced statements from January 2016, Articles with unsourced statements from April 2020, Creative Commons Attribution-ShareAlike License. Estes países estão enfrentando uma situação economicamente complicada, sendo obrigados a reduzir seus Unfortunately unions and the state are very powerful here, so they hang on to money as the private business disappears. The Great Recession started to hit Portugal in 2008; that year the Portuguese economy did not grow (0.0%) and fell almost 3% in 2009. portugal: efeitos da crise de 2007-2008 60 observatÓrio das migraÇÕes manual de identidade corporativa acm acm. This was a reflection of this decline in competitiveness relative to the rest of the Eurozone. [128] After the bailout was announced, the Portuguese government headed by Pedro Passos Coelho managed to implement measures to improve the State's financial situation and the country started to be seen as moving on the right track. (See: Fiscal multipliers in Europe). If you continue browsing the site, you agree to the use of cookies on this website. In this economic situation, deflationary fiscal policy has had a very high negative multiplier effect causing a substantial drop in real GDP. In 2016, Portugal registered a 14-year sequence of continuous increases in, In 2016, combined sovereign and personal debt in Portugal was the 5th largest in the Eurozone, reaching a combined 390% of GDP. [citation needed], A positive turning point in Portugal's strive to regain access to financial markets, was achieved on 3 October 2012, when the state managed to convert €3.76 billion of bonds with maturity in September 2013 (carrying a 3.10% yield) to new bonds with maturity in October 2015 (carrying a 5.12% yield). É o caso, por exemplo, do … [31], In the end, Portuguese economy grew less on a per capita basis in the 2000s and early 2010s than the American economy during the Great Depression or the Japanese economy during the Lost Decade. Economists have variously described the proposed budget as “brutal”, “a crime against the middle class”, a “fiscal atomic bomb”. [citation needed] This also led to a strong increase of the unemployment rate to over 15 per cent in the second quarter 2012 and it is expected to rise even further in the near future. The crisis, we are assured, was caused by the withdrawal of the state and an excess of deregulation. The 2010–2014 Portuguese financial crisis was part of the wider downturn of the Portuguese economy that started in 2001 and possibly ended in 2016–17. Para muitos portugueses, crise econômica já é uma lembrança distante Crise forçou Portugal a pedir ajuda à UE e ao FMI em 2011; em troca de um plano de resgate, a … 10/11/2020. There have also been concerns that the austerity measures have been self-defeating. The 2002 snap election brought to power the Social Democrats led by José Manuel Durão Barroso; his government was marked by the introduction of harsh fiscal austerity policies and structural reforms, mainly justified by the need to reduce the budget deficit, a set of policies designed by his Finance Minister Manuela Ferreira Leite. Portugal foi afetada pela crise de 2008, pese embora a solidez financeira do setor. Click the OK button, to accept cookies on this website. DESSINCRONIZADA EM RELAÇÃO À PERIFERIA. Abstract. Labour costs rising faster than productivity. In other European nations, meanwhile, wages have increased by between 25% and 35% (. ... Muito haveria a dizer sobre as causas da crise. As pessoas chamam-lhe a crise do "subprime". Causas da Crise Económica de 2008 Consequências da Crise Económica de 2008 Conclusão Plano de Trabalhos Introdução Dois grandes "Crashes" Dois grandes "Crashes" Ideia geral Ideia geral Foi uma crise que começou no Texto completo; Resumen. a crise do sÉculo xiv em portugal Os problemas e dificuldades que se fizeram sentir na Euro­pa, na 2ª metade do século XIV, atingiram também Portugal Logo em 1348, a Peste Negra chegou ao nosso país. It has got so bad, the Portuguese Prime Minister has been quoted as saying the young Portuguese, should show more effort and leave the country to get a job. [53], In the parliamentary elections of October 2015, the ruling right wing party failed to achieve an operating majority despite having won the elections by a solid margin. This was caused by a combination of the global recession, lack of competitiveness and limitations of being in the Euro. PDF (922 Kb) Tables. The bailout funding programme will run until June 2014, but at the same time require Portugal to regain a complete bond market access in September 2013. Moreover, euro area governments supported distressed financial institutions via capital transfers. A crise financeira em Portugal de 2010–2014 iniciou-se como parte da crise financeira global de 2007–2008, desenvolvendo-se no contexto da crise da dívida pública da Zona Euro, que afetou principalmente os países europeus meridionais e a Irlanda. [42] Other more structural problems identified were excessive corruption and regulation, which makes difficult for business to get bigger and achieve economies-of-scale,[17] as also the low educational attainment of Portuguese adults, low total factor productivity, rigid labour market laws and an inefficient and slow judicial system.[42]. 77-93 Idioma: portugués Enlaces. In 2012, it made Spain a late participant in the European sovereign debt crisis when the country was unable to bail out its financial sector and had to apply for a €100 billion rescue package provided by the European Stability … Exemplo disso é o novo código do trabalho, aprovado só com os votos do PS, e o aumento da pobreza, do The impact of austerity measures also reduced consumer and business confidence. A Europa está estagnada. Essas pessoas encontram-se revoltadas e insatisfeitas, pois eles não se sentem responsáveis pela recessão econômica e não estão dispostas a pagarem pelo preço exigido para solucionar os problemas da crise. [24][25][26][27] A economia continuou a registrar positivos, porém pequenos, índices de crescimentos em 2005 (0.8%) e 2006 (1.4%). [10] Ferreira Leite managed to keep deficit on 2.9% both in 2003 and in 2004, but through one-off and extraordinary measures. Around the world stock markets have fallen, large financial institutions have collapsed or been bought out, and governments in even the wealthiest nations have had to come up with rescue packages to bail out their financial systems. From the perspective of Portugal's industrial orders, exports, entrepreneurial innovation and high-school achievement, the country matched or even surpassed its neighbors in Western Europe. Economia Portuguesa e Europeia: a crise de 2008-2013 Manual de apoio António Duarte Santos CARS, Centro de Análise Económica da Regulação Social, Departamento de Ciências Económicas e Empresariais, Universidade Autónoma de Lisboa CIEO, Centro de Investigação sobre Espaço e Organizações, Universidade do Algarve A crise financeira de 2007–09, tamén coñecida crise financeira global, ... Segundo o economista estadounidense Paul Krugman, premio Nobel de economía de 2008, a economía mundial non entrou en depresión en senso propio, pero si tornou a economía da depresión. [31] The causes of the stagnation are complex, as many potential causes also affect other Southern European countries and did not prevent them from growing in the 2000s, nor did prevent Portugal from growing before the early 2000s. Some senior German policy makers went as far as to say that emergency bailouts to Greece and future EU aid recipients should bring with it harsh penalties. O problema dos PIIGS começou com a crise de 2008, e até hoje continuam se agravando cada vez mais. In 2010, PIIGS and PIGS acronyms were widely used by international bond analysts, academics, and the international economic press when referring to these under performing economies. A Crise Do Império Português Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. [38] Bento also points out that Euro was the root cause for many the internal macroeconomic disequilibria inside Eurozone – such as excessive external deficits in periphery countries (such as Portugal) and excessive external surplus in core countries – and that such disequilibria were the main cause of the 2010s European debt crisis (and were, to a great extent, more to important to explain the crisis than states' public finances). That, in turn, has pushed the government to borrow from abroad to finance … It is also 0.9% below the limits agreed at Maastricht. [28] In 2007, the government achieved a 2.6% budget deficit (one year before target), below the 3.0% limit allowed by the Stability and Growth Pact. [21], Socialist José Sócrates became Prime Minister in 2005; like his Conservative predecessor, Sócrates tried to reduce the government's budget deficit through austerity and tax hikes, but refused to use extraordinary measures for the consolidation of public finances. An anti-austerity post-electoral left wing coalition was formed achieving 51% of the vote and 53% of elected MPs, however, the President of Portugal at first refused to allow the left wing coalition to govern, inviting the minority right wing coalition to form a government. Crise em Portugal do séc. In spite of the relevance of LC in Portugal, information available (2011) reveals that, in most European countries, the relative weight of these companies is even larger. Ao fato, deve-se inúmeras razões, diferente da outra grande crise do sistema, ocorrida em 1929, com a quebra da bolsa nova-iorquina. [6] The government achieved a 2.1% budget deficit in 2016 (the lowest since the restoration of democracy in 1974)[7] and in 2017 the economy grew 2.7% (the highest growth rate since 2000). Italy and Spain are exhibiting worrying symptoms. Os reis piblicaram, Causas da crise de 2008 Um aspecto importante a considerar quando se trata da crise econômica de 2008, a maior da história do capitalismo desde a Crise de 1929 , foi sua origem em decorrência de duas guerras – a Guerra do Afeganistão em 2001 e a Guerra do Iraque em 2003, deflagradas após os atentados terroristas de 11 de setembro de 2001 nos Estados Unidos. From Jan 2010, fears over the stability of Eurozone bonds spread to Portugal, and bond yields rapidly rose to unsustainable levels. In 2008, the Portuguese current account deficit was over 12% of GDP. Nova crise de dívida "pode ser inevitável, mas não acreditamos que seja tão má quanto a crise financeira global de 2008-2009", diz economista da Standard & Poor's. [17] Portugal still entered well in the 2000s, registering an almost 4% GDP growth rate in 2000,[10] but growth slowed along 2001; that year's growth rate was 2.0%[10] and the unexpected slowdown was one of the causes that made the government's (still led by António Guterres) budget deficit to slip to 4.1%;[18][19] Portugal thus became the first Eurozone country to clearly break the SGP's 3% limit for the budget deficit, and thus, it was opened an excessive deficit procedure. In the period Q4 2o10 to Q4 2012, the Portuguese economy has declined over 5.3%. Portugal had little room to manoeuvre to adapt to the cri-sis since it had its own pre-crisis economic constraints and needed to comply with the EU’s requirements, especially as a member of the Eurozone. Já na fase económica, em Janeiro de 2009, o governo respondia aos apelos das [16] Although, by 2000, Portugal was still the poorest country in Western Europe, it nevertheless had achieved a level of convergence with the developed economies in Central and Northern Europe which had no precedents in the previous centuries, a catching-up process which was expected to continue. [41] A set of economists (including former Prime Minister and eventual President Aníbal Cavaco Silva) points to the excessive size of the Portuguese government, whose total expenditures overtook 45% of the GDP in 2005. The recent sale of bonds with a 3-year maturity, was the first bond sale of the Portuguese state since requesting the bailout in April 2011, and the first step slowly to open up its governmental bond market again. The global financial crisis, brewing for a while, really started to show its effects in the middle of 2007 and into 2008. – from £6.99. [10] Nevertheless, also in 2007, the comparatively low growth rate made The Economist to describe Portugal as "a new sick man of Europe". Mas agora o problema é outro! Crise mundial de 2011. NexoEDU. [8], Unlike other European countries that were also severely hit by the Great Recession in the late 2000s and received bailouts in the early 2010s (such as Greece and Ireland), in Portugal the 2000s were not marked by economic growth, but instead were already a period of economic crisis, marked by stagnation, two recessions (in 2002–03[9][10] and 2008–09[11][10]) and government-sponsored fiscal austerity in order to reduce the budget deficit to the limits allowed by the European Union's Stability and Growth Pact. On joining the Euro, the Portuguese national debt was below the 60% limit set by the Maastricht criteria. A crise financeira internacional, desencadeada em 2008, nos Estados Unidos, teve repercussões desastrosas para a economia da zona do euro e atingiu Portugal em cheio. The 2008–2014 Spanish financial crisis, also known as the Great Recession in Spain or the Great Spanish Depression, began in 2008 during the world financial crisis of 2007–08. Ao contrário da Grécia, da Irlanda ou da Espanha, países com um elevado crescimento económico no período anterior à crise, Portugal registou um crescimento reduzido desde 2001. 2002–2008: A ECONOMIA PORTUGUESA. La crise financière de 2008, une crise de la mondialisation ? A crise financeira de 2008 desencadeou uma série de protestos contra as especulações financeiras ** Nos anos após a crise, alguns protestos contra a especulação imobiliária e financeira americana ficaram conhecidos internacionalmente. Em se tratando do momento de instabilidade, todas as empresas seguiram o mesmo comportamento do Índice Bovespa, com grande volatilidade nos primeiros meses da crise. Risky credit, public debt creation, and European structural and cohesion funds were mismanaged across almost four decades. Pois é. Ele está. Moody noted that the rising debt would weigh heavily on the government's short-term finances.[49]. Mas Portugal está em crise há oito anos. Portuguese exporters have been losing market share to competitors since entering the common currency in 2000. [47] However, the Portuguese economy had been creating its own problems over a lengthy period of time, which came to a head with the financial crisis. To prevent an insolvency situation in the debt crisis, Portugal applied in April 2011 for bail-out programs and drew a cumulated €78.0 billion from the International Monetary Fund (IMF), the European Financial Stabilisation Mechanism (EFSM), and the European Financial Stability Facility (EFSF). [19] Otherwise, the deficit would have hit the 5% mark. Este artigo faz parte da série Análises da Economia Portuguesa em tempos de Covid-19, iniciativa do PROSPER - Center of Economics for Prosperity, e representa algumas das conclusões do estudo Quem arcará com os custos da crise Covid-19: Análise de empregos em risco em Portugal. A um ano das eleições, o Governo já tem uma desculpa: "A crise financeira está a chegar a Portugal." [1] 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 an intense austerity policy, intenser than in any other period of the wider 2001–17 crisis. ana estevens anselmo amÍlcar jennifer mcgarrigle jorge malheiros Luckily it is mostly the state workers that have these nice pensions, so whichever way they fight for power, they will loose their money. [31], The Great Recession started to hit Portugal in 2008; that year the Portuguese economy did not grow (0.0%) and fell almost 3% in 2009. In 2016, Portuguese GDP was $259 billion, up by about 3% from 2015, and 21% from its record low in 2012. Apertem os cintos, que Portugal está sumindo. In the Euro, prices and costs increased in Portugal more than the northern Eurozone economies, but without the ability to devalue, goods become more and more uncompetitive. This caused the government to pursue emergency austerity measures. Os resultados obtidos indicam que os determinantes com impacto direto na performance das seguradoras, são, para além da crise, a alavancagem financeira, a dimensão e o risco. In 2008, the Portuguese current account deficit was over 12% of GDP. Because Portugal was in the Single Currency, there has been little other options to boost domestic demand to offset the fiscal tightening. In response to the debt crisis, Portugal pursued austerity with great vigour Between 2009-11, the budget balance was reduced 7.9% of GDP – a large tightening given the economic situation. Excel (1473 Kb) Login for subscription With much of the young skilled labour force now gone, the government will have to pay for this spiral of debt with pensions. After the financial crisis of 2007–2008, it was known in 2008–2009 that two Portuguese banks (Banco Português de Negócios (BPN) and Banco Privado Português (BPP)) had been accumulating losses for years due to bad investments, embezzlement and accounting fraud. The case of BPN was particularly serious because of its size, market share, and the political implications - Portugal's then current President, Aníbal Cavaco Silva, and some of his political allies, maintained personal and business relationships with the bank and its CEO, who was eventually charged and arrested for fraud and other crimes. Portugal exited the bailout in May 2014,[4][5] the same year that positive economic growth re-appeared following three years of recession. Unsurprisingly, the austerity measures are leading to widespread protest and concern the relatively new Portuguese democracy could be threatened by the spectre of mass-unemployment. Nouriel Roubini, o profeta da crise de 2008, vem a Portugal falar da economia pós-Covid Leonor Mateus Ferreira. XIV na Europa A depressão do século XIV atingiu primeiro os campos, com os maus anos agrícolas, provocando o abandono progressivo da agricultura. Afinal, eu não me lembro que em Portugal alguma vez se tenha vivido sem crise. [46], Robert Fishman, in the New York Times article "Portugal's Unnecessary Bailout", points out that Portugal fell victim to successive waves of speculation by pressure from bond traders, rating agencies and speculators. Este é o corolário de uma das mais antigas ideias da teoria económica, a hipótese da convergência. This was a reflection of this decline in competitiveness relative to the rest of the Eurozone. over the period 2008-14. Advantages and disadvantages of monopolies, Fears over liquidity in the Eurozone (no Central Bank willing to print money and buy bonds when needed). Os próprios países estão extremamente endividados. Dez anos volvidos, quase todos fazem hoje os seus balanços da grande crise financeira de 2008. nombreux pays et a conduit à une crise économique mondiale? [42] Another factor at the root of the stagnation may be that Portuguese economy faced increasing competition by Eastern European countries and China, which were economies also specialized in low wages and low-value-added goods. [23] In the Stability and Growth Programme for 2005–2009, the government of Sócrates proposed to let the budget deficit to be higher than 6% in 2005, but to structurally reduce it to below 3% until 2008, a plan which was accepted by the European authorities. You are welcome to ask any questions on Economics. In the Euro, prices and costs increased in Portugal more than the northern Eurozone economies, but without the ability to devalue, goods become more and more uncompetitive. [citation needed], In the summer of 2010, Moody's Investors Service cut Portugal's sovereign bond rating down two notches from an Aa2 to an A1[48] Due to spending on economic stimuli, Portugal's debt had increased sharply compared to the gross domestic product. Dez anos da crise de 2008: colapso, consequências e lições. A crise financeira em Portugal de 2010–2014 iniciou-se como parte da crise financeira global de 2007–2008, desenvolvendo-se no contexto da crise da dívida pública da Zona Euro, que afetou principalmente os países europeus meridionais e a Irlanda. But the … Persistent and lasting recruitment policies boosted the number of redundant public servants. Since 2000, productivity-adjusted wages have increased only 5% in Germany (they actually declined from 2000-2008). Desde 2008, quando a crise estourou nos países europeus, milhares de pessoas contrárias às medidas adotadas pelo governo saíram em manifestações na Grécia. ‘They should show more effort’ and ‘leave their comfort zone.’ (FT) He suggested that teachers unable to find a job at home should think about emigrating to Angola or Brazil. The yield on the country's 10-year government bonds reached 7 percent – a level the Portuguese Finance Minister Fernando Teixeira dos Santos had previously said would require the country to seek financial help from international institutions. However, the recession of 2009-12, has seen a rapid increase in the level of debt, despite efforts to reduce public spending and austerity measures pursued by the government. O pico anterior tinha sido registado no terceiro trimestre de 2008. Há ainda um agravante. [42][38] It is noteworthy that from 2000 to 2007, taxes as share of GDP increased 1.7% in Portugal but declined 0.9% in Eurozone. It reduced internal consumption partly due to less money in private hands (and I mean, making people VERY poor) and businesses closing. Between 2009-16 the Portugal economic experienced a severe economic crisis – characterised by falling GDP, high unemployment, rising government debt and high bond yields. 01 mai, 2019 - 09:00 • Sandra Afonso, Rui Barros (gráficos) A Renascença olhou para os números da década para perceber como está a economia portuguesa depois da crise, da austeridade da troika e de Mário Centeno, o "Ronaldo das Finanças". [10][36] Meanwhile, government debt-to-GDP ratio sharply rose from 68% in 2007 to 111% in 2011. Um lugar para discutir apenas artigos relacionados com … Press release. Germany and France, the healthy ones, are suffering from a global economic malaise. Economia. The net acquisition of financial assets was particularly pronounced in Germany, Ireland, Greece, Cyprus, Luxembourg, Portugal and Slovenia, with acquisitions being well above 5% of GDP (see column (A) of Table 2). Mas Portugal está em crise há oito anos. [22] By then, economy was clearly lagging behind European partners and the 2005 budget deficit was expected to be above 6% if no extraordinary measures were used. A crise financeira mundial de 2008, ainda provoca efeitos colaterais pelo mundo, e um deles, foi exatamente o alto índice alcançado das dívidas públicas do grupo do PIIGS causando fuga de capitais e queda nas bolsas. [42][38] Meanwhile, the Social Security system was demanding increasing public spending, and the constant tax hikes in the 2000s limited the potential for growth of the Portuguese economy. Economic growth stalled in Portugal in 2001–02; following years of internal economic crisis, the (international) Great Recession started to hit Portugal[2][3] in 2008 and eventually led to the country being unable to repay or refinance its government debt without the assistance of third parties. [10] A notable milepost in the crisis happened in 2005, when the Portuguese unemployment rate overtook the European average for the first time since 1986. In the opening weeks of 2010, renewed anxiety about the excessive levels of debt in some EU countries and, more generally, about the health of the Euro spread from Ireland and Greece to Portugal, Spain, and Italy. É … The new government (of the Socialist Party and independents) took office in November 2015 with a parliamentary majority thanks to the support of the Left Bloc, the Green Party and the Communist Party and the abstention of the Animal Welfare Party (PAN). In 1998, Portugal government debt per capita was €5,443 per person, by 2010 this has increased to €15,115. 46, 2015, págs. A hipótese é simples: enquanto os países mais ricos estão na fronteira do conhecimento, e portanto só podem crescer na medida em qu… [12][13][14], From the early 1960s to the early 2000s, Portugal endured three periods of robust economic growth and socio-economic development (approximately from 1960 to 1973, from 1985 to 1992 and from 1995 to 2001)[6] which made the country's GDP per capita to rise from 39% of the Northern-Central European average in 1960[15] to 70% in 2000.