Figure 1 - uploaded by António Portugal Duarte
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Context 1
... result was a large increase in public deficits and public debts, especially in Europe. Figure 1 shows the evolution of fiscal balances in the European Union (27 countries), in Germany and in the countries that are at the center of the sovereign debt crisis: Greece, Ireland, Portugal, Spain and Italy. ...
Context 2
... noticeable feature of Figure 1 is that it shows that Greece has never complied with the rules of the Maastricht Treaty and of the Stability and Growth Pact: Greek fiscal deficits were always above the 3% limit. In other words, Greek statistics were manipulated in order to gain access to the Eurozone. ...
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... S. Tang, 2006;Julia Acevedo-Urquiaga et al., 2021). A few years later, the world was hit by the financial crisis, which revealed strong dependencies in supplier-customer relationships confirming the reality of the butterfly effect and the domino effect (Bação et al., 2012;Choi & Douady, 2012;Giunipero & Eltantawy, 2004;Jüttner & Maklan, 2011;Kambil & Mahidhar, 2005). Since then, the research on supply chain risk management (SCRM) has intensified and become a subject of interest of supply chain specialists and managers (Blome & Schoenherr, 2011;Y. ...
... It possesses many of the characteristics that are essential for an international reserve currency, and it is viewed as the most viable alternative to the dollar – see Cooper (2009). However, the succession of international crises – see, e.g.,Alexandre et al., 2009;Bação and Duarte, 2011;Andrade and Duarte, 2011;Bação et al., 2012– has diminished investors' confidence in financial institutions, namely in the euro zone. This problem has been compounded by the lack of decisive political action to end the euro zone's sovereign debt crisis. ...
