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Essay / Research Paper Abstract
This 10 page paper looks at the situation and with in the economies of Portugal, Italy, Greece and Spain in 2010, looking at their similarities differences, considering the way in which the financial crisis suffered by these countries may be compared to the Mexican peso closes and the Asian currency crisis. The bibliography cites 12 sources.
Page Count:
10 pages (~225 words per page)
File: TS14_TEPIGS10.rtf
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Unformatted sample text from the term paper:
the "Olive Belt or the "Club Med" (Jovanovic, 2005). Economies all based the southern area of Europe, and also significantly during the 2008/9 global recession and may be seen as
having certain commonalities, including being particularly vulnerable as a result of increasing government debt levels as well as the current government debt deficits when measured against the GDP. Many of
the current problems often compared with financial crises of the past, however any crises there are likely to be differing factors impact on the way. Therefore, when looking at this
group of PIGS they were different circumstances in each country, and in many instances it may be argued that the performance is not that different from other European countries. However,
it is also argued that these are the countries which are suffering to the greatest extent as a result of having stay within the European single currency (This Is Money,
2009). It was speculated at the beginning of 2009 at all four countries would have to ask for help from the international monetary fund (IMF). To date, Greece has been
seen as reaching a point of crisis and requiring international monetary fund raise funds available in order to save the economy, but the financial crisis is far from over. In
order to consider the crisis the current crisis can be considered and then compared to crises of the past. When considering the financial conditions in each of these countries one
of the first consideration is may be the debt to GDP ratios. In Portugal there is a debt to GDP ratio that is similar to France and Germany, with 80%,
of this there is a high level of exposure because 80% is owed to foreigners (Butler, 2010). The situation is further complicated due to the presence of the euro, as
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