Em se tratando do momento de instabilidade, todas as empresas seguiram o mesmo comportamento do Índice Bovespa, com grande volatilidade nos primeiros meses da crise. [42] Another factor at the root of the stagnation may be that Portuguese economy faced increasing competition by Eastern European countries and China, which were economies also specialized in low wages and low-value-added goods. portugal: efeitos da crise de 2007-2008 60 observatÓrio das migraÇÕes manual de identidade corporativa acm acm. In 2016, Portugal registered a 14-year sequence of continuous increases in, In 2016, combined sovereign and personal debt in Portugal was the 5th largest in the Eurozone, reaching a combined 390% of GDP. MIGRAÇÃO E CRISE: O RETORNO DOS IMIGRANTES BRASILEIROS EM PORTUGAL Duval Fernandes* Maria da Consolação G. de Castro** Frente à crise iniciada em 2008, a migração de retorno passou a compor, em todo o mundo, a cena dos trajetos migratórios do segundo decênio do Século XXI. Os resultados obtidos indicam que os determinantes com impacto direto na performance das seguradoras, são, para além da crise, a alavancagem financeira, a dimensão e o risco. In 2017, the IMF saw a 2.5 percent growth rate and an unemployment rate below 10 percent, but the European Commission expected Portugal's Government debt to reach 128.5 percent of GDP. nombreux pays et a conduit à une crise économique mondiale? r/portugal: Articles related to the country Portugal and Portuguese people in the world. [10] Nevertheless, also in 2007, the comparatively low growth rate made The Economist to describe Portugal as "a new sick man of Europe". This was a reflection of this decline in competitiveness relative to the rest of the Eurozone. With much of the young skilled labour force now gone, the government will have to pay for this spiral of debt with pensions. ... Muito haveria a dizer sobre as causas da crise. Higher taxes also reduced disposable income. In 2008, the Portuguese current account deficit was over 12% of GDP. Unsurprisingly, the austerity measures are leading to widespread protest and concern the relatively new Portuguese democracy could be threatened by the spectre of mass-unemployment. [8], Unlike other European countries that were also severely hit by the Great Recession in the late 2000s and received bailouts in the early 2010s (such as Greece and Ireland), in Portugal the 2000s were not marked by economic growth, but instead were already a period of economic crisis, marked by stagnation, two recessions (in 2002–03[9][10] and 2008–09[11][10]) and government-sponsored fiscal austerity in order to reduce the budget deficit to the limits allowed by the European Union's Stability and Growth Pact. The government cut spending leading to job losses and lower disposable income. segunda-feira, 13 de outubro de 2008. In the 2000s and early 2010s, Portugal was under excessive deficit procedure (EDP) in 2002–2004, 2005–2008 and from 2009 on (this last EDP was closed in 2017). Crise em Portugal do séc. Temas. [53], In the parliamentary elections of October 2015, the ruling right wing party failed to achieve an operating majority despite having won the elections by a solid margin. With the rapid drop in real GDP and austerity measures, the Portuguese unemployment rate has increased at one of the fastest rates in the EU. Excellent presentation of the facts. To prevent an insolvency situation in the debt crisis, Portugal applied in April 2011 for bail-out programs and drew a cumulated €78.0 billion from the International Monetary Fund (IMF), the European Financial Stabilisation Mechanism (EFSM), and the European Financial Stability Facility (EFSF). [20] Meanwhile, the first half of the 2000s also saw the end of the downward trend in the government debt to GDP ratio that marked the 1990s: the ratio rose from 53% in 2000 to 62% in 2004 (the ratio overtook the SGP's arbitrary limit of 60% in 2003). Economia. Also in 2010, the country reached a record high unemployment rate of nearly 11%, a figure not seen for over two decades, while the number of public servants remained very high. A crise de 2008 começou nos anos 90 e tem uma série de características únicas e sem precedentes. DESSINCRONIZADA EM RELAÇÃO À PERIFERIA. [28] In 2007, the government achieved a 2.6% budget deficit (one year before target), below the 3.0% limit allowed by the Stability and Growth Pact. This caused the government to pursue emergency austerity measures. Os reis piblicaram, [42] Other more structural problems identified were excessive corruption and regulation, which makes difficult for business to get bigger and achieve economies-of-scale,[17] as also the low educational attainment of Portuguese adults, low total factor productivity, rigid labour market laws and an inefficient and slow judicial system.[42]. In spite of the relevance of LC in Portugal, information available (2011) reveals that, in most European countries, the relative weight of these companies is even larger. [46], Robert Fishman, in the New York Times article "Portugal's Unnecessary Bailout", points out that Portugal fell victim to successive waves of speculation by pressure from bond traders, rating agencies and speculators. ana estevens anselmo amÍlcar jennifer mcgarrigle jorge malheiros crise económica de 2008-2012 na dinâmica das empresas portuguesas”. Esta crise nada tem a ver com a de 2008 ou a de 2010-2012, a resposta só pode ser europeia e os líderes europeus têm de ter em conta que a União Europeia foi construída para assegurar a paz. Official data said the French economy will probably contract by 0.1% in both the third and fourth quarters of 2008, following a 0.3% contraction between April and June. Em Portugal, o ano de 2008 fica marcado pelas gigantescas mobilizações de professores contra a política educativa do governo. As pessoas chamam-lhe a crise do "subprime". [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 an intense austerity policy, intenser than in any other period of the wider 2001–17 crisis. [20] Portuguese economy grew a combined 0.8% in 2002, was in recession in 2003 (-0.9%) and grew 1.6% in 2004. [17] Despite government policies openly aimed to consolidate the Portuguese public finances,[note 1] Portugal was almost always under excessive deficit procedure[note 2] and government debt-to-GDP ratio rose from 50% in 2000 to 68% in 2007 and 126% in 2012. In November risk premiums on Portuguese bonds hit euro lifetime highs as investors and creditors worried that the country would fail to rein in its budget deficit and debt. A crise financeira internacional, desencadeada em 2008, nos Estados Unidos, teve repercussões desastrosas para a economia da zona do euro e atingiu Portugal em cheio. [43][44][45] In the grounds of avoiding a potentially serious financial crisis in the Portuguese economy, the Portuguese government decided to give them a bailout, eventually at a future loss to taxpayers. ... in the case of Spain and Portugal, real-estate speculation). In this economic situation, deflationary fiscal policy has had a very high negative multiplier effect causing a substantial drop in real GDP. [31] The causes of the stagnation are complex, as many potential causes also affect other Southern European countries and did not prevent them from growing in the 2000s, nor did prevent Portugal from growing before the early 2000s. [31], The Great Recession started to hit Portugal in 2008; that year the Portuguese economy did not grow (0.0%) and fell almost 3% in 2009. Já na fase económica, em Janeiro de 2009, o governo respondia aos apelos das I hate the word ‘austerity’ because it seems to mean cutting back on business in an attempt to pay debts, whereas really business should be increased. [citation needed], In the summer of 2010, Moody's Investors Service cut Portugal's sovereign bond rating down two notches from an Aa2 to an A1[48] Due to spending on economic stimuli, Portugal's debt had increased sharply compared to the gross domestic product. Este artigo faz parte da série Análises da Economia Portuguesa em tempos de Covid-19, iniciativa do PROSPER - Center of Economics for Prosperity, e representa algumas das conclusões do estudo Quem arcará com os custos da crise Covid-19: Análise de empregos em risco em Portugal. Portugal e a crise do Subprime A crise financeira que neste momento o Mundo atravessa a um nível global iniciou-se nos Estados Unidos com a crise do subprime. [30] From 2005 to 2007, public debt was stable at a ratio of approximately 68% of the GDP. 46, 2015, págs. [50], In the first half of 2011, Portugal requested a €78 billion IMF-EU bailout package in a bid to stabilise its public finances. Essas pessoas encontram-se revoltadas e insatisfeitas, pois eles não se sentem responsáveis pela recessão econômica e não estão dispostas a pagarem pelo preço exigido para solucionar os problemas da crise. A crise financeira de 2007–09, tamén coñecida crise financeira global, ... Segundo o economista estadounidense Paul Krugman, premio Nobel de economía de 2008, a economía mundial non entrou en depresión en senso propio, pero si tornou a economía da depresión. Desses balanços podemos retirar que as análises … [citation needed] This also led to a strong increase of the unemployment rate to over 15 per cent in the second quarter 2012 and it is expected to rise even further in the near future. A Crise Económica de 2008 João Azenhas nº26 Turma Bravo 46º C.F.S. If you continue browsing the site, you agree to the use of cookies on this website. The rise in unemployment and fall in tax revenues have placed greater strain on the government’s budget, Despite the cost of current austerity, the draft 2013 budget proposes even more austerity measures including  “enormous” tax increases, including the raising of average income-tax rates by as much as a third. A Europa está estagnada. Causas da crise de 2008 Um aspecto importante a considerar quando se trata da crise econômica de 2008, a maior da história do capitalismo desde a Crise de 1929 , foi sua origem em decorrência de duas guerras – a Guerra do Afeganistão em 2001 e a Guerra do Iraque em 2003, deflagradas após os atentados terroristas de 11 de setembro de 2001 nos Estados Unidos. [38] For Ricardo Reis, the accession to Euro was a root cause for the 2000s crisis, but for different reasons than the ones put forward by Ferreira do Amaral: the low interest rates allowed an influx of foreign capital, which the country's weak financial system misallocated to the low-productive non-tradable sector, reducing the economy's overall productivity. Este é o corolário de uma das mais antigas ideias da teoria económica, a hipótese da convergência. On 23 March 2011, José Sócrates resigned following passage of a no confidence motion sponsored by all five opposition parties in parliament over spending cuts and tax increases. In April 2017, the unemployment rate was 9.5%, over 8% below the all-time high reached in 2013 though still slightly above the 43-year average since the country became a democracy. Since 2000, productivity-adjusted wages have increased only 5% in Germany (they actually declined from 2000-2008). An anti-austerity post-electoral left wing coalition was formed achieving 51% of the vote and 53% of elected MPs, however, the President of Portugal at first refused to allow the left wing coalition to govern, inviting the minority right wing coalition to form a government. [31], In the end, Portuguese economy grew less on a per capita basis in the 2000s and early 2010s than the American economy during the Great Depression or the Japanese economy during the Lost Decade. Mas o que é o "subprime"? Unfortunately unions and the state are very powerful here, so they hang on to money as the private business disappears. José Roberto Castro 14 de set de 2018 (atualizado 14/09/2018 às 19h11) Falência do banco de investimentos Lehman Brothers desencadeou a maior crise do capitalismo do planeta desde 1929. Crise na periferia: Brasil / América Latina e Portugal / Sul da Europa. Banks more suspect about holding any Eurozone debt. É … A crise financeira internacional, desencadeada em 2008, nos Estados Unidos, teve repercussões desastrosas para a economia da zona do euro e atingiu Portugal em cheio. O objetivo deste trabalho foi apresentar os problemas enfrentados pela Grécia, Portugal e Espanha após à crise financeira de 2008. O presente relatório é … [17] Portugal still entered well in the 2000s, registering an almost 4% GDP growth rate in 2000,[10] but growth slowed along 2001; that year's growth rate was 2.0%[10] and the unexpected slowdown was one of the causes that made the government's (still led by António Guterres) budget deficit to slip to 4.1%;[18][19] Portugal thus became the first Eurozone country to clearly break the SGP's 3% limit for the budget deficit, and thus, it was opened an excessive deficit procedure. Labour costs rising faster than productivity. Budget deficit in 2016 was 2.1% of GDP, 0.4% the arbitrary limit set for it by the EC, the lowest since 1974, and less than half of the previous government's last year in power 2015. No caso brasileiro, este movimento toma especial Portugal exited the bailout in May 2014,[4][5] the same year that positive economic growth re-appeared following three years of recession. In the Euro, prices and costs increased in Portugal more than the northern Eurozone economies, but without the ability to devalue, goods become more and more uncompetitive. The crisis, we are assured, was caused by the withdrawal of the state and an excess of deregulation. Economia Portuguesa e Europeia: a crise de 2008-2013 Manual de apoio António Duarte Santos CARS, Centro de Análise Económica da Regulação Social, Departamento de Ciências Económicas e Empresariais, Universidade Autónoma de Lisboa CIEO, Centro de Investigação sobre Espaço e Organizações, Universidade do Algarve The net acquisition of financial assets was particularly pronounced in Germany, Ireland, Greece, Cyprus, Luxembourg, Portugal and Slovenia, with acquisitions being well above 5% of GDP (see column (A) of Table 2). Crise mundial de 2011. A crise de 2008 foi o grande problema ocorrido no sistema capitalista após virada do milênio. Na verdade, esta tem-se revelado uma das mais graves crises dos últimos anos a ocorrer no sistema financeiro mundial. This was a reflection of this decline in competitiveness relative to the rest of the Eurozone. 11/24/2008 A crise lá fora (recortes) A colecção de Mirós do BPN, Banco Português de Negócios (mais 30 toneladas de moedas comemorativas dos Euro 2004) - comprar por doença . Exemplo disso é o novo código do trabalho, aprovado só com os votos do PS, e o aumento da pobreza, do O problema dos PIIGS começou com a crise de 2008, e até hoje continuam se agravando cada vez mais. a crise do sÉculo xiv em portugal Os problemas e dificuldades que se fizeram sentir na Euro­pa, na 2ª metade do século XIV, atingiram também Portugal Logo em 1348, a Peste Negra chegou ao nosso país. [54], Austerity measures amid increased pressure on government bonds, Economic Adjustment Programme for Portugal, Rejection of Austerity Conditions and Political Crisis, An "everyday" example of the tax hikes during the 2000s crisis is the. The 2002 snap election brought to power the Social Democrats led by José Manuel Durão Barroso; his government was marked by the introduction of harsh fiscal austerity policies and structural reforms, mainly justified by the need to reduce the budget deficit, a set of policies designed by his Finance Minister Manuela Ferreira Leite. XIV Prof.ª Mariana Gregório História Raquel nº 18 Cláudia nº5 Índice Crise do séc. Portuguese exporters have been losing market share to competitors since entering the common currency in 2000. Around the world stock markets have fallen, large financial institutions have collapsed or been bought out, and governments in even the wealthiest nations have had to come up with rescue packages to bail out their financial systems. condiÇÕes de vida e inserÇÃo laboral dos imigrantes em portugal: efeitos da crise de 2007-2008 alina esteves (coord.) Click the OK button, to accept cookies on this website. In response to the debt crisis, Portugal pursued austerity with great vigour Between 2009-11, the budget balance was reduced 7.9% of GDP – a large tightening given the economic situation. Repare que a trajetória de crescimento é interrompida durante a crise de 2008, depois ocorre uma queda e, em 2014, a trajetória de crescimento é retomada. Crescimento económico e taxa de desemprego em in Portugal: uma história de ciclos acentuados e contraciclidade. The bailout funding programme will run until June 2014, but at the same time require Portugal to regain a complete bond market access in September 2013. In the period Q4 2o10 to Q4 2012, the Portuguese economy has declined over 5.3%. O facto da crise económica de 2008-2012, ser a maior desde os anos trinta, com repercussões em diversas áreas, representa um motivo acrescido para a escolha deste tema. É o caso, por exemplo, do … In 2010, PIIGS and PIGS acronyms were widely used by international bond analysts, academics, and the international economic press when referring to these under performing economies. A crise financeira internacional também fez as suas vítimas por cá, tendo o governo preferido salvar os bancos, em vez de defender os mais fracos. Moody noted that the rising debt would weigh heavily on the government's short-term finances.[49]. [42][38] Meanwhile, the Social Security system was demanding increasing public spending, and the constant tax hikes in the 2000s limited the potential for growth of the Portuguese economy. The Portugal economic crisis was also caused by the US Economic crash of 2008. Cara Dolores, Na outra semana eu te falava sobre os efeitos da crise econômica europeia em Portugal. Press release. [21], Socialist José Sócrates became Prime Minister in 2005; like his Conservative predecessor, Sócrates tried to reduce the government's budget deficit through austerity and tax hikes, but refused to use extraordinary measures for the consolidation of public finances. Itália deve 120% de seu PIB. [citation needed], A positive turning point in Portugal's strive to regain access to financial markets, was achieved on 3 October 2012, when the state managed to convert €3.76 billion of bonds with maturity in September 2013 (carrying a 3.10% yield) to new bonds with maturity in October 2015 (carrying a 5.12% yield). Nova crise de dívida "pode ser inevitável, mas não acreditamos que seja tão má quanto a crise financeira global de 2008-2009", diz economista da Standard & Poor's. over the period 2008-14. Resiliência, sustentabilidade e qualidade de vida em sistemas urbanos : efeitos da crise (pós-2008) em Portugal e no sistema urbano do oeste: Author: Gonçalves, Carlos Jorge de Almeida, 1975-Advisor: Tese de Mestrado em Gestão e Políticas PúblicasEsta dissertação de Mestrado pretende analisar o papel dos governos da Islândia, da Bélgica e de Portugal na atual crise económico-financeira, procurando auferir se os mesmos foram atores determinantes na gestão dessa crise no período de 2008 a 2011, através do método explicativo comparativo. NexoEDU. Raising taxes to pay for a huge inefficient and bureaucratic state was completely the wrong thing to do. A crise financeira mundial de 2008, ainda provoca efeitos colaterais pelo mundo, e um deles, foi exatamente o alto índice alcançado das dívidas públicas do grupo do PIIGS causando fuga de capitais e queda nas bolsas. A um ano das eleições, o Governo já tem uma desculpa: "A crise financeira está a chegar a Portugal." Estes países estão enfrentando uma situação economicamente complicada, sendo obrigados a reduzir seus In September 2010, the Portuguese Government announced a fresh austerity package following other Eurozone partners, through a series of tax hikes and salary cuts for public servants. Na sequência da iniciativa do PSD de Torres Novas em colaboração com a Comissão Política Distrital do PSD de Santarém, realizada ontem, quinta-feira, 19 de Fevereiro, no Auditório do Hotel dos Cavaleiros, em Torres Novas, aqui fica a apresentação do Deputado Miguel Frasquilho, subordinada ao tema "Da Crise Financeira à Crise Económica: Impactos e Soluções para a … Mas agora o problema é outro! Dez anos da crise de 2008: colapso, consequências e lições. A crise financeira de 2008 desencadeou uma série de protestos contra as especulações financeiras ** Nos anos após a crise, alguns protestos contra a especulação imobiliária e financeira americana ficaram conhecidos internacionalmente. [22] By then, economy was clearly lagging behind European partners and the 2005 budget deficit was expected to be above 6% if no extraordinary measures were used. [24][25][26][27] A economia continuou a registrar positivos, porém pequenos, índices de crescimentos em 2005 (0.8%) e 2006 (1.4%). Before the bond exchange, the state had a total of €9.6 billion outstanding notes due in 2013, which according to the bailout plan should be renewed by the sale of new bonds on the market. [41] A set of economists (including former Prime Minister and eventual President Aníbal Cavaco Silva) points to the excessive size of the Portuguese government, whose total expenditures overtook 45% of the GDP in 2005. In 2016, Portuguese GDP was $259 billion, up by about 3% from 2015, and 21% from its record low in 2012. Dez anos volvidos, quase todos fazem hoje os seus balanços da grande crise financeira de 2008. Europe’s approach to the crisis has evolved in three phases (Caldas, 2013): financial (March-December 2008), economic (December 2008 (See: Fiscal multipliers in Europe). Italy and Spain are exhibiting worrying symptoms. This was formed in November 2015 and lasted 11 days when it lost motion of confidence. [10][36] Meanwhile, government debt-to-GDP ratio sharply rose from 68% in 2007 to 111% in 2011. No terceiro trimestre deste ano, a economia portuguesa superou a dimensão que tinha antes da crise. O ministro das Finanças argumentou que Portugal está “incomparavelmente melhor dotado do ponto de vista económico e financeiro” para enfrentar uma crise do que em 2008, nas finanças públicas e nas empresas e famílias. Commentdocument.getElementById("comment").setAttribute( "id", "a6a2f8fbe817479f5fea5e00e6dcafdc" );document.getElementById("c01309a77d").setAttribute( "id", "comment" ); Cracking Economics Abstract. This was caused by a combination of the global recession, lack of competitiveness and limitations of being in the Euro. – from £6.99. Moreover, euro area governments supported distressed financial institutions via capital transfers. Entenda como a crise de 2008 impactos os países europeus nessa aula. Advantages and disadvantages of monopolies, Fears over liquidity in the Eurozone (no Central Bank willing to print money and buy bonds when needed). [6] The government achieved a 2.1% budget deficit in 2016 (the lowest since the restoration of democracy in 1974)[7] and in 2017 the economy grew 2.7% (the highest growth rate since 2000). From Jan 2010, fears over the stability of Eurozone bonds spread to Portugal, and bond yields rapidly rose to unsustainable levels. In 1998, Portugal government debt per capita was €5,443 per person, by 2010 this has increased to €15,115. No devaluation to boost the competitiveness of exports. (austerity in Portugal at Economist). Há ainda um agravante. [32][33] Austerity was somewhat waned in 2008–2010, as part of the European economy recovery plan and the resurgence of Keynesianism (which called for anti-cyclic policies), but was resumed in May 2010. Em Portugal, após a queda do Lehman Brothers, seriam precisos alguns anos para a crise bancária vir ao de cima. Some senior German policy makers went as far as to say that emergency bailouts to Greece and future EU aid recipients should bring with it harsh penalties. Risky credit, public debt creation, and European structural and cohesion funds were mismanaged across almost four decades. [38] Bento also points out that Euro was the root cause for many the internal macroeconomic disequilibria inside Eurozone – such as excessive external deficits in periphery countries (such as Portugal) and excessive external surplus in core countries – and that such disequilibria were the main cause of the 2010s European debt crisis (and were, to a great extent, more to important to explain the crisis than states' public finances). [38] Such hypothesis was eventually the basis for the austerity requested as conditionality for the 2011–2014 European Union/IMF bailout. [38][39][40] Vítor Bento also thinks that the belonging to a currency union created numerous challenges to which the Portuguese economy was not able to adapt. The global financial crisis, brewing for a while, really started to show its effects in the middle of 2007 and into 2008. It has got so bad, the Portuguese Prime Minister has been quoted as saying the young Portuguese, should show more effort and leave the country to get a job. Portugal reduziu déficit fiscal ao mesmo tempo em que aumentava salários e pensões, ... aposentadorias e horas trabalhadas aos níveis anteriores à crise econômica de 2008. La crise financière de 2008, une crise de la mondialisation ? 10/11/2020. Portugal had little room to manoeuvre to adapt to the cri-sis since it had its own pre-crisis economic constraints and needed to comply with the EU’s requirements, especially as a member of the Eurozone. [17][38] Economist Ferreira do Amaral points to the accession to Euro in 1999–2002, which was too strong as a currency for Portugal's economy and industry and took away from the country the ability to direct its own monetary (rise or reduce interest rates) and cambial policy (currency devaluation). In other European nations, meanwhile, wages have increased by between 25% and 35% (. O pico anterior tinha sido registado no terceiro trimestre de 2008. They were pioneers of the Hardcore/punk '80's movement in Portugal, along … [51] All together this bodes well for a further decline of the governmental interest rates in Portugal, which on 30 January 2012 had a peak for the 10-year rate at 17.3% (after the rating agencies had cut the governments credit rating to "non-investment grade" -also referred to as "junk"),[52] and as of 24 November 2012 has been more than halved to only 7.9%. [19] Otherwise, the deficit would have hit the 5% mark. English. However, the recession of 2009-12, has seen a rapid increase in the level of debt, despite efforts to reduce public spending and austerity measures pursued by the government. Curioso é que, segundo a reportagem da BBC Brasil, “Portugal chegou a ensaiar um forte pacote de austeridade entre 2011 e 2014”, ou seja, o crescimento retornou durante o período da política de austeridade. That, in turn, has pushed the government to borrow from abroad to finance … XIV na Europa A depressão do século XIV atingiu primeiro os campos, com os maus anos agrícolas, provocando o abandono progressivo da agricultura. The financial crisis of 2008, still far from over, has done severe damage to the reputation of the free market. [10] Meanwhile, the government reported a 2.6% budget deficit in 2008 which rose to almost 10% in 2009. [47] In the first quarter of 2010, before pressure from the markets, Portugal had one of the best rates of economic recovery in the EU. Na fase financeira da crise, no último trimestre de 2008, o governo português aprovou uma “Iniciativa de Reforço da Estabilidade Financeira (IREF)” orientada para o reforço das instituições financeiras. situação de crise devido ao grande gasto do setor público. Crise Total were formed in 1983 in two Lisbon suburbs (Algueirão and Portela). The impact of austerity measures also reduced consumer and business confidence. – A visual guide On joining the Euro, the Portuguese national debt was below the 60% limit set by the Maastricht criteria. Jornais Nacionais de 28 de novembro de 2020. As Portugal was already able to renew one-third of the outstanding bonds at a reasonable yield level, the market now expect the upcoming renewals in 2013 also to be conducted at reasonable yield levels. A hipótese é simples: enquanto os países mais ricos estão na fronteira do conhecimento, e portanto só podem crescer na medida em qu… A Crise Do Império Português Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Economists have variously described the proposed budget as “brutal”, “a crime against the middle class”, a “fiscal atomic bomb”.