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As of 2016, the EMA was roughly parallel to the drug part of the U.S. Food and Drug Administration (FDA), [53] but without centralisation. [54] The timetable for product approval via the EMA's centralised procedure of 210 days compares well with the average of 500 days taken by the FDA in 2008 to evaluate a product.
In 2012 the Portuguese debt, at 129% of the GDP, was the second highest in relative terms in the European Union only after Greece. [3] By the first semester of 2013, the Portuguese national debt increased to a record-high of 130% of the GDP, around 214.5 billion Euros or 293 billion US dollars. [4] In June 2014, the public debt reached 134% of ...
Between 2009 and 2017 the Greek government debt rose from €300 bn to €318 bn, i.e. by only about 6% (thanks, in part, to the 2012 debt restructuring); [34] [119] however, during the same period, the critical debt-to-GDP ratio shot up from 127% to 179% [34] basically due to the severe GDP drop during the handling of the crisis.
In addition it was enforced by the EU regulation, that the upper MTO limit for eurozone states or ERM II Member States should be: Max. 1.0% of GDP in structural deficit if the state had a combination of low debt and high potential growth, and if the opposite was the case – or if the state suffered from increased age-related sustainability ...
(mentioned as part of stage 2 in the updated 2015 reform plan) Establish an increasing degree of "common decision-making on national budgets" and an "enhanced coordination of economic policies" . A subject to "enhanced coordination", could in example be the specific taxation and employment policies implemented by the National Job Plan of each ...
[50] [51] [52] In December 2012 a preliminary estimate indicated, that the needed overall bailout package should have a size of €17.5bn, comprising €10bn for bank recapitalisation and €6.0bn for refinancing maturing debt plus €1.5bn to cover budget deficits in 2013+2014+2015, which in total would have increased the Cypriot debt-to-GDP ...
The objectives of the DMFAS Programme are to assist countries to develop administrative, institutional and legal structures for effective debt management; to provide technical assistance to government offices in charge of debt management; to deploy and advance debt analysis and management systems; and to act as a focal point for discussion and ...
Portugal's central bank is the Banco de Portugal, which is an integral part of the European System of Central Banks. The largest Portuguese banks are Banco Comercial Português and the state-owned Caixa Geral de Depósitos. [137] Portuguese banks hold strategic stakes in other sectors of the economy, including the insurance sector.