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The Portuguese market
In 1986 Portugal became a member of the European Union. As a result, companies gained access to a larger market which led to a growth in the Portuguese economy. Portugal was the fastest growing economy in the European Union. Thanks to donations from the EU, the infrastructure in the country has been improved. In 1998 Portugal was admitted to EMU and in 2002, together with fifteen other European countries, they launched the Euro. Portugal experienced periods of economic growth, stagnation and recession.
The global economic crisis that started in the second half of 2008 had a negative impact on their economic recovery. In 2011 they had to apply for a loan to stabilize the country. Nevertheless, the Portuguese economy is slowly recovering.