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 pay double-digit interest rates on its bonds, its debt...

In 2010, the first economic adjustment program began offering a blueprint for economic recovery and a feasible way for Greece to emerge from the crisis. The authors show that Greece neither overcame its structural weaknesses nor developed export industries as a driver of growth in the course of...

Im Jahr 2010 lieferte das erste wirtschaftliche Anpassungsprogramm eine Blaupause für die wirtschaftliche Erholung Griechenlands und zeigte einen gangbaren Weg aus der Krise. Die Autoren stellen dar, dass Griechenland im Verlauf der Reformen weder seine strukturellen Schwächen überwunden noch...