By xrayman on Skatehive
Good morning, everyone from the Finance and Economy community! The world is constantly changing. We notice this whenever there is a “hiccup” or a sudden jolt. As far back as 2010, when Portugal was facing a major recession caused by excessive increases in public debt, the talk of competitiveness, the stagnation of the financial sector, and the lack of diversity and low penetration in international markets, with the trade balance tilting heavily toward imports. Many disastrous public investments led us to that point, and I remember very well when, in 2011, the government had to request assistance from the IMF—the International Monetary Fund—the European Commission, and the European Central Bank, through the mechanism that came to be known as the Troika—due to the three entities involved. Between 2000 and 2012, public debt rose from 50% to 126% of GDP, which, due to the anemic growth of the Portuguese economy, led foreign markets—and notably the major credit rating agencies—to give the P