In 2011, Portugal suffered a sudden stop in international financing, triggering an abrupt adjustment process. As the crisis in the euro area continues, Portugal continues to feel its impact, with the recession entering a third consecutive year in 2013 and unemployment reaching record highs.
On March 26, Global Economy and Development at Brookings hosted a conversation with Portuguese Minister of State and Finance Vítor Gaspar on the challenges Portugal faces as the euro area looks to find a path toward recovery. Mr. Gaspar was appointed minister of State and Finance in June 2011. Gaspar is also a professor of economics, having taught at various Portuguese universities. He holds a Ph.D. in economics from Universidade Nova de Lisboa. . He was the head of the Bureau of European Policy Advisers at the European Commission from January 2007 to February 2010. From September 1998 to December 2004, he served as the director-general of research at the European Central Bank. Prior to that, he held various high ranking positions in government and at Banco de Portugal.
Brookings Managing Director William Antholis moderated the conversation.