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Current economic developments in Portugal do not portend well. The Portuguese GDP is shrinking and the growth forecast … for 2012 is gloomy - in the EU only the forecast for Greece is even worse (Figure 1). Moreover, Portugal is now having to … on 15 p.c., and its current account deficit continues to remain high. All of these things not only indicate that Portugal …
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The weakness of credit growth in the United States and Europe has given rise to concerns that the financial crisis has led to a credit crunch which has deepened the recession in the real economy and poses a serious threat to the recovery that seems to have started in the most recent months. In...
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