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Bailed out Europe’s economies are blooming. Excluding Greece

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Bailed out Europe’s economies are blooming. Excluding Greece
Bailed out Europe’s economies are blooming. Excluding Greece

During the region’s debt crisis, five countries were bailed out by European partners, except Greece which is still going backwards.

Spain:  Leaving its economic troubles firmly behind, Spain has been increasing at all times for the past two years.

To rescue the banks, Europe’s bailout fund loaned Spain 41 billion euros ($45 billion) and prevent the economy collapsing.

Ire-Land: In 2008, Ireland was the first euro-zone country to fall into recession .

In December 2013, it received 67 billion euros ($73 billion) in international bailout loans , after its property market fail and banks started breaking down.

Portugal: In 2011, Portugal received 78 billion euros ($85.6 billion) in bailout loans , after being weak to get its budget deficit under control. Like other rescued countries, Portugal was advised painful and deeply unpopular economic improvements , aimed at bringing back its competitiveness.

Cyprus: When its financial system started to fall down, Cyprus got into problem in 2013, . Like Greece recently, it was compelled to shut down its banks for an extended period to halt a complete meltdown. In March 2013, it protected a bailout package worth 10 billion euros ($11 billion) in March 2013.

Greece: For now, Greece might have stayed away from terrible exit from the euro, but it still faces deep economic crisis. In fact, its data look as bad as those of a conflicted countries.  Greek GDP may collapse by as much as 4% this year, The European Commission says.

SOURCE:IMF, EUROPEAN COMMISSION 

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