Assessment of the ECB's policies 10 years after its inception in terms of its impact on the individual euro area economies

My thesis deals with the topic of monetary policy of the European Central Bank and its impact on the four euro area economies, PIGS countries, namely Portugal, Italy, Greece and Spain. In the theoretical part of the work inform the reader with a short feature of the ECB, its goals, objectives and instruments for achieving these objectives and the development of the euro and its exchange rate. The second part deals with the impact of nominal and real interest rates on the percentage change in growth or decline in GDP in these countries each year