Some member states anticipated that the Greek debt crisis would lead to a domino effect by expanding to other heavily indebted Euro countries. Other member states stuck to the Treaty and refrained from financial assistance. Finally the Euro members decided to assist Greece in May 2010 with a ...
indicators weakened notably in August and September, partly due to deteriorating global conditions. We forecast GDP growth at a subdued 1.6% this year, but picking up to 3.4% in 2012 as the resources boom has increasingly positive spillovers into other sectors. The expansionary impact of the ...
In the meantime, while the current account deficit rose as a percentage of GDP in 1999, the net income deficit remained stable at 3.0 percent of GDP. FOREIGN INVESTMENT Net foreign debt was 39.8 percent of GDP (or US$159.5 billion) at the end of December 1999, below the peak of 41.9 p...