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The Italic tribe known as the Latins formed the Roman Kingdom, which eventually became a republic that conquered and assimilated other nearby civilisations.Ultimately the Roman Empire emerged as the dominant power in the Mediterranean basin, conquering much of the ancient world and becoming the leading cultural, political and religious centre of Western civilisation.

The social economy's primary objective is to generate economic activity at the same time as meeting and addressing the needs of workers, users and consumers, rather than owners and investors.

Following a military coup in April 1974 and the Carnation Revolution, civil liberties were restored.

After the widespread turbulence and radicalism of the revolutionary period of 1974-76 cleared away, Portugal eventually settled into a liberal democratic political system.

By the end of the 20th century, the United States dollar was considered the world's most dominant reserve currency,[1] and the world's need for dollars has allowed the United States government as well as Americans to borrow at lower costs, granting them an advantage in excess of 0 billion per year.[2] However, the U. dollar's status as a reserve currency, by increasing in value, hurts U. exporters.[3] The Dutch guilder emerged as a de facto world currency in the 18th century due to unprecedented domination of trade by the Dutch East India Company.[4] However, the development of the modern concept of a reserve currency took place in the mid nineteenth century, with the introduction of national central banks and treasuries and an increasingly integrated global economy.

By the 1860s, most industrialised countries had followed the lead of the United Kingdom and put their currency on to the gold standard.

Euro area business cycle dating committee