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EURO CRISIS: GREECE, PORTUGAL AND SPAIN
Jorge Rodrigues Simão
GREECE, PORTUGAL AND SPAIN
As the global recession began in 2008, the Greek economy featured high levels of public debt, a large trade deficit, undiversified industries, an overextended public sector, militant trade unions, widespread corruption, uneven payment of taxes, an overvalued currency, consumers expecting rising living standards and euro membership based on inaccurate data.