During the regionâ€™s debt crisis, five countries were bailed out by European partners, except Greece which is still going backwards.
Spain:Â Â Leaving its economic troubles firmly behind,Â Spain has been increasingÂ at all timesÂ for the past two years.
To rescue the banks,Â Europe’s bailout fund loaned Spain 41 billion euros ($45 billion) and prevent the economy collapsing.
Ire-Land:Â In 2008,Â 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 failÂ and banks started breaking down.
Portugal:Â In 2011,Â Portugal received 78 billion euros ($85.6 billion) in bailout loans , after being weakÂ to get its budget deficit under control. Like other rescued countries, Portugal was advisedÂ painful and deeply unpopular economic improvementsÂ , aimed at bringing backÂ its competitiveness.
Cyprus: When its financial system startedÂ to fall down, Cyprus got into problemÂ in 2013, . Like Greece recently, it was compelledÂ to shut downÂ its banks for an extended period to haltÂ a complete meltdown. In March 2013, it protectedÂ a bailout package worth 10 billion euros ($11 billion) in March 2013.
Greece: For now,Â Greece might have stayed away fromÂ terribleÂ exit from the euro, but it still facesÂ deep economic crisis. In fact, its dataÂ look as bad as those of a conflicted countries. Â Greek GDP may collapseÂ by as much as 4% this year, The European Commission says.
SOURCE:IMF, EUROPEAN COMMISSIONÂ