The Economy of Portugal is a high income mixed economy. The Global Competitiveness Report 2008-2009 edition placed Portugal in the 43rd position out of 134 countries and territories.

Most imports come from the European Union countries of Spain, Germany, France, Italy, and the United Kingdom. Most exports also go to other European Union member states. The Portuguese currency is the euro (€) and has been a part of the Eurozone from the beginning. Portugal's central bank is the Banco de Portugal, which is part of the European System of Central Banks. The major stock exchange is the Euronext Lisbon which is part of the NYSE Euronext, the first global stock exchange.

Although its gradual modernization and relative expansion since the 1960s, the educational system remained underdeveloped until the 2000s when it finally reached the World's best practices and trends. However, the country has been increasingly overshadowed by lower-cost producers in Central Europe and Asia as a target for foreign direct investment. These long-term problems have hindered much economic growth.

Portugal ⁱ/ˈpɔrtʃʉɡəl/ (Portuguese: Portugal, IPA: [puɾtuˈɣaɫ]), officially the Portuguese Republic (Portuguese: República Portuguesa) is a country situated in southwestern Europe on the Iberian Peninsula . Portugal is the westernmost country of mainland Europe, and is bordered by the Atlantic Ocean to the West and South and by Spain to the North and East. The Atlantic archipelagos of the Azores and Madeira are part of Portugal. The country is named after its second largest city, Porto, whose Latin name was Portus Cale.

The land within the borders of the current Portuguese Republic has been continuously settled since prehistoric times: occupied by Celts like the Gallaeci and the Lusitanians, integrated into the Roman Republic and later settled by Germanic peoples such as the Suebi, Swabians, Vandals and the Visigoths. In the 8th century most of the Iberian Peninsula was conquered by Moorish invaders professing Islam, which were later expelled by the Knights Templar under the Order of Christ. During the Christian Reconquista, Portugal established itself as an independent kingdom from León in 1139, claiming to be the oldest European nation state.

Angela Dorothea Merkel, German: [aŋˈɡeːla doʁoˈteːa ˈmɛʁkl̩] ( listen); née Kasner (born 17 July 1954) is the Chancellor of Germany and Chairwoman of the Christian Democratic Union (CDU). Merkel is the first female Chancellor of Germany.

A physical chemist by professional background, Merkel entered politics in the wake of the Revolutions of 1989 and briefly served as the deputy spokesperson for Lothar de Maizière's democratically elected East German government prior to the German reunification. Following reunification in 1990, she was elected to the Bundestag, where she has represented the state of Mecklenburg-Vorpommern since. She served as Federal Minister for Women and Youth 1991–1994 and as Federal Minister for the Environment, Nature Conservation and Nuclear Safety 1994–1998 in Helmut Kohl's fourth and fifth cabinets. She was Secretary General of the CDU 1998–2000, and was elected chairperson in 2000. From 2002 to 2005, she was also chair of the CDU/CSU parliamentary coalition.

After her election as Chancellor following the 2005 federal election, she led a grand coalition consisting of her own CDU party, its Bavarian sister party, the Christian Social Union (CSU), and the Social Democratic Party of Germany (SPD), until 2009. In the 2009 federal election, the CDU obtained the largest share of the votes, and formed a coalition government with the CSU and the liberal Free Democratic Party (FDP).