Portugal and PIGS: Main Lessons of Economic Recovery

... bolstered most of these states’ debt securities, with investors’ demand growing and yields plummeting, indicating a significantly wider opening to the international capital markets. Table 4. Medium-Term Dynamics of Basic Indicators for the PIGS and the Eurozone Indicators Year Greece Spain Ireland Portugal Eurozone Share of budget deficit in GDP, percent 2009 -15,7 -11,1 -12,4 -10,2 -6,4 2013 -2,1 -6,6 -6,7 -4,5 -3,0 Share of current account deficit in GDP, percent 2009 -14,4 -4,8 -2,3 -10,8 +0,2 2013 -2,3 +1,1 +7,0 +0,4 +2,7 Economic ...