50249
Portugal Closer to Derailment
Portugal Closer to Derailment

Portugal Closer to Derailment

Portugal Closer to Derailment

Portugal's economy is coming closer to a catastrophic derailment which could trigger a eurozone meltdown, amid a toxic combination of rising bankruptcies, falling numbers of new businesses and high government debt, Social Europe reported. The number of companies going bust in the European nation has soared by 49.5% in the first eight months of the year, with 2,474 companies being declared insolvent—819 more than in the same period last year—according to data from the Ignios Business Center. Last month insolvent companies jumped by 9% from August last year—equivalent to 20 more companies in difficulties every day. The catalyst for the trouble appears to be a plunge in exports. Antonio Monteiro, chief executive of Ignios, said: "Exports, the main engine of economic growth in recent years, reveal a slowdown in recent figures released by the Institute of National Statistics. This will predictably have consequences for companies in the traditionally exporting districts, that until now have shown better numbers than the areas most dependent on domestic demand."

 

Short URL : https://goo.gl/khuf1R
  1. https://goo.gl/686hdj
  • https://goo.gl/G2Z9lz
  • https://goo.gl/udxKW7
  • https://goo.gl/KZArpR
  • https://goo.gl/JbX7wl

You can also read ...

According to the new regulations, Cubans will be able to hold only one business license.
The Cuban government has said it wants more foreign investment...
The lira has lost around 45% of its value against the US currency this year, largely over worries about Erdogan’s influence over the economy
Turkey’s central bank on Monday announced it was ready to take...
Trump’s No-Win Trade War
President Donald Trump’s trade war may be fated to fail, for...
World Stocks, Currencies Plummet
World markets shuddered on Monday, as Turkey’s worsening...
Amado Boudou (R) attends his trial on corruption charges  in Buenos Aires on August 7.
Records kept in notebooks of the kinds used by schoolchildren...
(P)GCC Banks  Face Business Risks
A number of (Persian) Gulf Cooperation Council banks that have...
China Printing Foreign Money
China is printing more foreign money as it seeks to expand its...
Singapore Warns Trade Tensions May Lower H2 Growth
Singapore authorities warned of slower economic growth in the...

Trending

Googleplus