Review of the Economic Situation in Greece, Cyprus, Ireland, and Portugal
December 8, 2024
The European Central Bank reviews the economic situation of four countries that received financial assistance: Greece, Cyprus, Ireland, and Portugal, following the memorandum crisis. While the recovery for the latter three countries began between 2012 and 2014, Greece faced delays due to various challenges. Despite shocks such as the pandemic and the Ukraine war, all four countries have shown strong performance since 2019. However, they still face challenges including high public debt and low productivity growth.