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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 January 2013, the European Commission approved, under EU state aid rules, a rescuing recapitalisation totalling €1.1 billion granted by Portugal to Banco Internacional do Funchal S.A. for reasons of financial stability. The Portuguese Republic committed to provide a far-reaching restructuring plan for Banif by 31 March 2013. [22]
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 ...
The payments from EFSF were earmarked to finance €35.6bn of PSI restructured government debt (as part of a deal where private investors in return accepted a nominal haircut, lower interest rates and longer maturities for their remaining principal), €48.2bn for bank recapitalization, [33] €11.3bn for a second PSI debt buy-back, [35] while ...
The 2010–2014 Portuguese financial crisis was part of the wider downturn of the Portuguese economy that started in 2001 and possibly ended between 2016 and 2017. [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 intense austerity policies ...
Moody's credit rating agency downgraded Portugal's debt by two notches Tuesday, to A1 from Aa2, citing weak growth and climbing debt levels over the past two years that will continue to sap the ...
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. [55]
Portugal plans to swap the entire 140 million euro ($152.91 million) debt it is owed by Cape Verde for investments in the archipelago's environmental and climate fund, Prime Minister Antonio Costa ...