Texto completo; Resumen. 2002–2008: A ECONOMIA PORTUGUESA. condiÇÕes de vida e inserÇÃo laboral dos imigrantes em portugal: efeitos da crise de 2007-2008 alina esteves (coord.) [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). Europe’s approach to the crisis has evolved in three phases (Caldas, 2013): financial (March-December 2008), economic (December 2008 [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. Crise mundial de 2011. 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. Moody noted that the rising debt would weigh heavily on the government's short-term finances.[49]. There have also been concerns that the austerity measures have been self-defeating. Ao fato, deve-se inúmeras razões, diferente da outra grande crise do sistema, ocorrida em 1929, com a quebra da bolsa nova-iorquina. Este é o corolário de uma das mais antigas ideias da teoria económica, a hipótese da convergência. [20] Portuguese economy grew a combined 0.8% in 2002, was in recession in 2003 (-0.9%) and grew 1.6% in 2004. É comum ouvir que o aumento da dívida em 2009, em Portugal, foi, em parte, responsabilidade dos líderes europeus — que teria dado ordem para gastar e, assim, mitigar os efeitos da crise. 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. In 2008, the Portuguese current account deficit was over 12% of GDP. [34] In 2010 there was economic growth (1.9%) but the financial status remained very difficult (8.6% budget deficit);[10][35] the country eventually became unable to repay or refinance its government debt and requested a bailout in April 2011; in 2011 the economy fell 1.3% and the government reported a 4.2% budget deficit. By the start of the debt crisis in 2009, the level of public sector debt had edged up to 70% of GDP. [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. [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. No caso brasileiro, este movimento toma especial The contemporary capitalist society crisis and its social consequences have been subject of vivid worldwide deliberation. portugal: efeitos da crise de 2007-2008 60 observatÓrio das migraÇÕes manual de identidade corporativa acm acm. In 2012, it made Spain a late participant in the European sovereign debt crisis when the country was unable to bail out its financial sector and had to apply for a €100 billion rescue package provided by the European Stability … Because Portugal was in the Single Currency, there has been little other options to boost domestic demand to offset the fiscal tightening. [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. O pico anterior tinha sido registado no terceiro trimestre de 2008. 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. Na verdade, esta tem-se revelado uma das mais graves crises dos últimos anos a ocorrer no sistema financeiro mundial. [10] A notable milepost in the crisis happened in 2005, when the Portuguese unemployment rate overtook the European average for the first time since 1986. Exemplo disso é o novo código do trabalho, aprovado só com os votos do PS, e o aumento da pobreza, do Dez anos depois, Portugal ainda não recuperou da crise. Cara Dolores, Na outra semana eu te falava sobre os efeitos da crise econômica europeia em Portugal. Figura 1. 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). [23] In the Stability and Growth Programme for 2005–2009, the government of Sócrates proposed to let the budget deficit to be higher than 6% in 2005, but to structurally reduce it to below 3% until 2008, a plan which was accepted by the European authorities. Higher taxes also reduced disposable income. The Portugal economic crisis was also caused by the US Economic crash of 2008. [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). O presente relatório é … 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. Portugal esteve em recessão em 2003, foi particularmente afetado pela crise financeira de 2008-09 e pela subsequente crise da dívida soberana em 2011-13. Advantages and disadvantages of monopolies, Fears over liquidity in the Eurozone (no Central Bank willing to print money and buy bonds when needed). 77-93 Idioma: portugués Enlaces. 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 . You are welcome to ask any questions on Economics. ... in the case of Spain and Portugal, real-estate speculation). [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. On joining the Euro, the Portuguese national debt was below the 60% limit set by the Maastricht criteria. [128] After the bailout was announced, the Portuguese government headed by Pedro Passos Coelho managed to implement measures to improve the State's financial situation and the country started to be seen as moving on the right track. Afinal, eu não me lembro que em Portugal alguma vez se tenha vivido sem crise. A crise financeira em Portugal de 2010–2014 iniciou-se como parte da crise financeira global de 2007–2008, desenvolvendo-se no contexto da crise da dívida pública da Zona Euro, que afetou principalmente os países europeus meridionais e a Irlanda. 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 económica de 2008-2012 na dinâmica das empresas portuguesas”. Crescimento económico e taxa de desemprego em in Portugal: uma história de ciclos acentuados e contraciclidade. [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. 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. In 2016, Portuguese GDP was $259 billion, up by about 3% from 2015, and 21% from its record low in 2012. 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. Ao contrário da Grécia, da Irlanda ou da Espanha, países com um elevado crescimento económico no período anterior à crise, Portugal registou um crescimento reduzido desde 2001. Itália deve 120% de seu PIB. It reduced internal consumption partly due to less money in private hands (and I mean, making people VERY poor) and businesses closing. Entenda como a crise de 2008 impactos os países europeus nessa aula. The financial crisis of 2008, still far from over, has done severe damage to the reputation of the free market. 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. Portuguese exporters have been losing market share to competitors since entering the common currency in 2000. Economia. A Crise Económica de 2008 João Azenhas nº26 Turma Bravo 46º C.F.S. A crise de 2008 começou nos anos 90 e tem uma série de características únicas e sem precedentes. 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. [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. 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. 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. Uncommonly, from 2008 to 2012, the average monthly salary has grown more among SME than LC. Unfortunately unions and the state are very powerful here, so they hang on to money as the private business disappears. 01 mai, 2019 - 09:00 • Sandra Afonso, Rui Barros (gráficos) A Renascença olhou para os números da década para perceber como está a economia portuguesa depois da crise, da austeridade da troika e de Mário Centeno, o "Ronaldo das Finanças". PDF (922 Kb) Tables. Portugal, Itália, Irlanda, Grécia e Espanha, não puderam honrar seus compromissos financeiros criando o grupo do PIIGS (Spain em inglês). 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. [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. – A visual guide ... Muito haveria a dizer sobre as causas da crise. Mais fortement touché par la crise des subprimes en 2008, notamment en raison de la bulle immobilière, le pays, après plusieurs hésitations et face au danger de la faillite du secteur bancaire, accepta en 2010 un plan de sauvetage mis en place par le Fonds européen de stabilité financière, qui prévoit l'octroi de prêts allant de 80 à 90 milliards d'euros à ce pays. In 2008, the Portuguese current account deficit was over 12% of GDP. PORTO, Portugal: Os resultados do primeiro National Oral Health Barometer, um estudo em saúde bucal realizado pela Associação Odontológica Portuguesa, indicam que a crise financeira que atingiu o mundo em 2008 teve um impacto significativo no acesso a cuidados de saúde odontológica em Portugal. As pessoas chamam-lhe a crise do "subprime". Portuguese national debt at Statistica | Eurostat | Global Finance est 2012. [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). 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. 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. [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. This was formed in November 2015 and lasted 11 days when it lost motion of confidence. [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. 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. 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. Tu deves ter te perguntado: E o que diabos o governo está fazendo para resolver o problema? 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. 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. Já na fase económica, em Janeiro de 2009, o governo respondia aos apelos das 10/11/2020. Economists have variously described the proposed budget as “brutal”, “a crime against the middle class”, a “fiscal atomic bomb”. 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. The current account was temporarily financed by capital inflows, but after the credit crunch these dried up, the ability to finance the current account declined. [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. (See: Fiscal multipliers in Europe). Greece, Portugal and Ireland are on life support. Há ainda um agravante. This was a reflection of this decline in competitiveness relative to the rest of the Eurozone. Portugal, Irlanda, Itália, Grécia e Espanha têm dívidas colossais. [10][36] Meanwhile, government debt-to-GDP ratio sharply rose from 68% in 2007 to 111% in 2011. Excellent presentation of the facts. English. [10] Nevertheless, also in 2007, the comparatively low growth rate made The Economist to describe Portugal as "a new sick man of Europe". [42][38] It is noteworthy that from 2000 to 2007, taxes as share of GDP increased 1.7% in Portugal but declined 0.9% in Eurozone. The 2008–2014 Spanish financial crisis, also known as the Great Recession in Spain or the Great Spanish Depression, began in 2008 during the world financial crisis of 2007–08. [30] From 2005 to 2007, public debt was stable at a ratio of approximately 68% of the GDP. Meanwhile, the government reported a 2.6% budget deficit in 2008 which rose to almost 10% in 2009. 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. XIV na Europa A depressão do século XIV atingiu primeiro os campos, com os maus anos agrícolas, provocando o abandono progressivo da agricultura. 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. In the opening weeks of 2010, renewed anxiety about the excessive levels of debt in some EU countries and, more generally, about the health of the Euro spread from Ireland and Greece to Portugal, Spain, and Italy. [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. No terceiro trimestre deste ano, a economia portuguesa superou a dimensão que tinha antes da crise. DESSINCRONIZADA EM RELAÇÃO À PERIFERIA. 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. [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 the period Q4 2o10 to Q4 2012, the Portuguese economy has declined over 5.3%. 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. The yield on the country's 10-year government bonds reached 7 percent – a level the Portuguese Finance Minister Fernando Teixeira dos Santos had previously said would require the country to seek financial help from international institutions. Risky credit, public debt creation, and European structural and cohesion funds were mismanaged across almost four decades. La crise financière de 2007/08 a touché simultanément de? [47] However, the Portuguese economy had been creating its own problems over a lengthy period of time, which came to a head with the financial crisis. From Jan 2010, fears over the stability of Eurozone bonds spread to Portugal, and bond yields rapidly rose to unsustainable levels. situação de crise devido ao grande gasto do setor público. Crise na periferia: Brasil / América Latina e Portugal / Sul da Europa. Crise Total were formed in 1983 in two Lisbon suburbs (Algueirão and Portela). A um ano das eleições, o Governo já tem uma desculpa: "A crise financeira está a chegar a Portugal." Dez anos volvidos, quase todos fazem hoje os seus balanços da grande crise financeira de 2008. O problema dos PIIGS começou com a crise de 2008, e até hoje continuam se agravando cada vez mais. 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: Crise em Portugal do séc. That, in turn, has pushed the government to borrow from abroad to finance … ‘They should show more effort’ and ‘leave their comfort zone.’ (FT) He suggested that teachers unable to find a job at home should think about emigrating to Angola or Brazil. Em Portugal, o ano de 2008 fica marcado pelas gigantescas mobilizações de professores contra a política educativa do governo. 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. Mas Portugal está em crise há oito anos. Nouriel Roubini, o profeta da crise de 2008, vem a Portugal falar da economia pós-Covid Leonor Mateus Ferreira. – from £6.99. (austerity in Portugal at Economist). 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. They were pioneers of the Hardcore/punk '80's movement in Portugal, along … [10] Meanwhile, the government reported a 2.6% budget deficit in 2008 which rose to almost 10% in 2009. [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. The crisis, we are assured, was caused by the withdrawal of the state and an excess of deregulation. If you continue browsing the site, you agree to the use of cookies on this website. Germany and France, the healthy ones, are suffering from a global economic malaise. 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 … No devaluation to boost the competitiveness of exports. With much of the young skilled labour force now gone, the government will have to pay for this spiral of debt with pensions. Mas agora o problema é outro! [19] Otherwise, the deficit would have hit the 5% mark. Press release. [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. 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. The new government (of the Socialist Party and independents) took office in November 2015 with a parliamentary majority thanks to the support of the Left Bloc, the Green Party and the Communist Party and the abstention of the Animal Welfare Party (PAN). In 1998, Portugal government debt per capita was €5,443 per person, by 2010 this has increased to €15,115. Portugal exited the bailout in May 2014,[4][5] the same year that positive economic growth re-appeared following three years of recession. Um lugar para discutir apenas artigos relacionados com … La crise financière de 2008, une crise de la mondialisation ? Labour costs rising faster than productivity. Desde 2008, quando a crise estourou nos países europeus, milhares de pessoas contrárias às medidas adotadas pelo governo saíram em manifestações na Grécia. Banks more suspect about holding any Eurozone debt. 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 sfn error: no target: CITEREFCommission_of_the_European_Communities2005 (, 2011–14 international bailout to Portugal, European Financial Stabilisation Mechanism (EFSM), European Financial Stability Facility (EFSF), Technical document by the Commission Services accompanying the Report on Portugal prepared in accordance with Article 104(3) of the Treaty, "Portugal grows at fastest rate since 2000", "The elections of the Great Recession in Portugal: performance voting under a blurred responsibility for the economy", "Portugal exits bailout poorer and long way from recovery", "Bailout Is Over for Portugal, but Side Effects Will Linger", "Portugal's budget deficit falls to 40-year low at 2.1%", "Portuguese economy grows 2.7% in 2017, the largest growth since 2000", "Portugal entrou em recessão no quarto trimestre de 2002", "Table A.1.1.8 - Gross domestic product at market prices (volume change rate; annual)", "Medidas de austeridade poderão evitar multas por défice excessivo", "Budget, impôts, retraite : la leçon d'austérité du Portugal", "Maddison Project Database, version 2013", "The Mystery of Why Portugal Is So Doomed", "Défice orçamental nacional atingiu os 4,1% do PIB em 2001", Commission of the European Communities 2005, "Programa do Governo para reduzir o défice levanta dúvidas à Comissão", "PEC português foi bem recebido pelo Eurogrupo", "Portugal tem até 2008 para corrigir défice público", "PEC português é hoje aprovado em Bruxelas", "Défice ao valor mais baixo dos últimos 30 anos", "Administrações Públicas: dívida bruta em % do PIB", "Eurostat aceita défice de 2008 registado por Portugal", "Eurostat validou défice de 9,4 por cento do PIB em 2009", "Sócrates dá primeira entrevista após aprovação do pacote de austeridade", "INE corrige o défice de 2010 para 8,6% do PIB", "Portugal fechou 2011 com défice de 4,2% do PIB", "Closed Excessive Deficit Procedures – Portugal", "Portuguese bestselling book recommends leaving the euro", "The Portuguese Slump and Crash and the Euro Crisis", "Expresso | BPN: Oliveira Costa vendeu a Cavaco e filha 250 mil ações da SLN", "Dias Loureiro entre os dirigentes do PSD no processo-crime do BPN", BBC News -Moody's downgrades Portugal debt, "Portuguese parliament votes against austerity plan", "Portugal seeks market access with $5 bln bond exchange", "Data archive for bonds and rates (Ten-year government bond spreads on 30 January 2012)", "Portugal 10-Year Futures Historical Data", https://www.cnbc.com/2017/08/02/how-portugal-came-back-from-the-brink.html, Economic and Monetary Union of the European Union, Post-Napoleonic Irish grain price and land use shocks, 2011 Tōhoku earthquake and tsunami stock market crash, 2015–2016 Chinese stock market turbulence, List of stock market crashes and bear markets, https://en.wikipedia.org/w/index.php?title=2010–2014_Portuguese_financial_crisis&oldid=990814636, Articles containing Portuguese-language text, Articles with unsourced statements from January 2016, Articles with unsourced statements from April 2020, Creative Commons Attribution-ShareAlike License. [16] Although, by 2000, Portugal was still the poorest country in Western Europe, it nevertheless had achieved a level of convergence with the developed economies in Central and Northern Europe which had no precedents in the previous centuries, a catching-up process which was expected to continue. 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. Our site uses cookies so that we can remember you, understand how you use our site and serve you relevant adverts and content. 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. Os semestres considerados como crise foram do segundo semestre de 2008 ao fim do primeiro semestre de 2010, e período de pós-crise foi considerado o segundo semestre de 2010 a maio de 2011. A Europa está estagnada. The global financial crisis, brewing for a while, really started to show its effects in the middle of 2007 and into 2008. ana estevens anselmo amÍlcar jennifer mcgarrigle jorge malheiros Abstract. 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. [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. O ano de 2011 anuncia seu fim, mas sem uma saída para a crise do euro. over the period 2008-14. 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. 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.