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The recession in the economy is now also projected to last until 2013, with GDP declining 3% in 2012 and 1% in 2013; followed by a return to positive real growth in 2014. [147] Unemployment rate increased to over 17% by end of 2012 but it has since decreased gradually to 10,5% as of November 2016. [148]
A 500 percent marginal interest rate for a short period was not enough to defend the krona against speculation, and Sweden had to abandon the fixed exchange rate in 16 September 1992. [ 5 ] Sweden joined the European Union in 1995 and its accession treaty has since obliged it to adopt the euro once the country is found to comply with all the ...
Furthermore, in September 2011, the SNB influenced the foreign exchange market again, and set a minimum exchange rate target of SFr 1.2 to the Euro. On January 15, 2015, the SNB suddenly announced that it would no longer hold the Swiss Franc at the fixed exchange rate with the euro it had set in 2011.
The central bank's interest rate was raised by 3% to 11.5% in October 2008, because of the crisis. However, then it was lowered consecutively 14 times until 27 April 2010 down to 5.25%. Then it was raised 5 times until 21 December 2011 up to 7%. Since then the rate has declined 35 times, as of February 2019 the interest rate is 0.90% [55]
In 2015 the Netherlands maintained its number one position at the top of the annual Euro health consumer index, which compares healthcare systems in Europe, scoring 916 of a maximum 1,000 points. The Netherlands is the only country that has been in the top three ranking in every Euro health consumer index published since 2005.
The country joined what is now the European Union in 1981. [54] In 2001 Greece adopted the euro as its currency, replacing the Greek drachma at an exchange rate of 340.75 drachmae per euro. [54] [55] Greece is a member of the International Monetary Fund and of the World Trade Organization, and ranked 34th on Ernst & Young's Globalization Index ...
The Amsterdam Stock Exchange was the first stock exchange to introduce continuous trade in the early 17th century. [ 53 ] During the 17th century, Amsterdam experienced what is considered its Golden Age , during which it became the wealthiest city in the Western world. [ 54 ]
The United Arab Emirates is situated in the Middle East and West Asia, bordering the Gulf of Oman and the Persian Gulf, between Oman and Saudi Arabia; it is at a strategic location along the northern approaches to the Strait of Hormuz, a vital transit point for world crude oil. [2]