Not exact matches
Following years of economic
troubles in the wake of the
sovereign debt crisis of in 2011, Portugal, Spain and Italy have managed to turnaround their economies.
The economy has registered one of the strongest performances in the euro area in the last few years — after the
troubles seen during the
sovereign debt crisis.
Portugal has been in financial
trouble since the
sovereign debt crisis of 2011.
We have seen promising structural reforms from some of the countries that had gotten into
trouble during the
sovereign debt crisis that started in 2009, and equally encouraging restructuring initiatives at the corporate level.
And lastly, we should also remember that the ECB is the proud owner of close to $ 250 billion worth of
sovereign debt from
troubled Eurozone countries, mainly Greece, Portugal, Italy and Spain, which it acquired through its Securities Market Program (SMP).
These firms, the Carlyle Group, Apollo Global Management and Oaktree Capital Management among them, have been raising billions of dollars during Europe's
sovereign debt crisis to buy loan portfolios, corporate bonds and other holdings from
troubled financial institutions on the Continent.
France is in
trouble because its banks are exposed to the PIIGS's
sovereign debt (PIIGS meaning Portugal, Italy, Ireland, Greece, and Spain).