International Trade, Commerce, Finance and Banking in POLAND

Authors Avatar

1. What is the financial situation of PIGS region?

PORTUGAL – Economy, in European Union : Seventeenth-largest

Latest GDP figure: 0.9% (Third quarter of 2009) ; Gross debt in 2010, forecast : 84.6% of GDP ; Gross debt in 2007 : 63.6% of GDP ; Jobless rate : 10.4% ; Population : 10,627,250 ; Stocks performance in 2010 : -9.7% (to 11 February)

>Portugal – with its high borrowing and sudden reversal in economic fortunes – has been lumped in the same category as its Mediterranean neighbours.

The country has vowed not to leave the eurozone, with its finance minister telling the BBC that it faced "an extraordinary and exceptional situation, due to a major financial and economic crisis without precedent in our recent history".

ITALY is in a difficult period. the economy is in a sharp recession, mainly because of external developments linked to the global financial crisis, and there is great uncertainty about the strength and timing of the recovery. Despite a relatively healthy banking system Italy seems particularly sensitive to both the credit tightening which has occurred in line with that in other countries and the weakness in external demand. This sensitivity has probably been accentuated both by the poor productivity and aggregate profitability performance of the economy over the past decade or more, and by the weak underlying fiscal situation. An array of budget neutral measures have been taken in the short term, but economic performance can be enhanced over the longer term by both macroeconomic and structural policy reforms

IRELAND – Economy, in European Union : Fifteenth-largest

Latest GDP figure: 0.3% (Third quarter of 2009) ; Gross debt in 2010, forecast : 82.9% of GDP ; Gross debt in 2007 : 25.4% of GDP ; Jobless rate : 13.3% ; Population : 4,450,014 Stocks performance in 2010 : -1.5% (to 11 February)

>With the global recession, most nations are still coping with the downturn in their respective economies. The economy of Ireland too is struggling with the recession. But if we look at Ireland in an independent light, in the past decade or so, Ireland has transformed its entire economy and done very well for itself.

Join now!

For a country that is thought to have missed the entire industrial revolution, it is an extraordinary achievement for Ireland to be voted the best place in the world to live according to the Economist survey. Today Ireland is a popular tourist destination.

The quality of life in Ireland is excellent, and overall crime in Ireland is low. However, PCI Scanning and Penetration Testing are sure to be a popular service in Ireland, as internet crimes like fraud and scams are on the rise.

After undergoing a major transformation in its economy, Ireland suffered heavily due to ...

This is a preview of the whole essay