35
40
45
HU EE CZ RO PL LT LV SK BG HR AT N
L SI BE DE SE EL EA IT PT CY IE ES...L
BE RO EE H
R LT BG SK PL LU H
U CY D
K
M
T
D
E IT PT EA IE SI AT SE CZ FI...
Açores and Madeira
Excluding Macau (MO)
RO Romania
SK Slovakia
SI Slovenia
ES...Netherlands
PL Poland
PT Portugal
RO Romania
SK Slovakia
SI Slovenia
...
Açores and Madeira
Excluding Macau (MO)
RO Romania
SK Slovakia
SI Slovenia
ES...NL Netherlands
PL Poland
PT Portugal
RO Romania
SK Slovakia
SI Slovenia
...
Açores and Madeira
Excluding Macau (MO)
RO Romania
SK Slovakia
SI Slovenia
ES...NL Netherlands
PL Poland
PT Portugal
RO Romania
SK Slovakia
SI Slovenia
...
0.6
NL
2000 2010 2020
0
0.2
0.4
0.6
PT
2000 2010 2020
0
0.2
0.4
0.6
ES...shocks across regions by country
(a) Common shocks
FR AT BE FI DE IE IT NL PT...
At the same time,
the slowdown in the growth in industrial products and servic-
es...VII VIII IX X XI XII I II III
Ex
te
rn
al
in
fla
tio
na
ry
p
re
ss
ur...
AA-u Aa3u AAu
* The non-Eurozone Member States
C
an
di
da
te
C
ou
nt
ri
es...Rating Agency / Long Term Issuer Rating for Foreign Currency
M
em
be
r
St
at
...
increased, with
a rise in the momentum of inflation in the prices of food, servic-
es...VIII IX X XI XII I II III IV V
Ex
te
rn
al
in
fla
tio
na
ry
p
re
ss
ur...
