What are the pigs of Europe?

PIIGS is an offensive acronym for Portugal, Italy, Ireland, Greece, and Spain, which were the weakest economies in the eurozone during the European debt crisis.

What does Pigs stand for in economics?

PIGS is an acronym used in economics and finance. The PIGS acronym originally refers, often derogatorily, to the economies of the Southern European countries of Portugal, Italy, Greece, and Spain.

WHAT ARE PIGS nations?

escalated for the so-called “PIGS” (Portugal, Ireland, Greece, and Spain) countries, as the EU and International Monetary Fund (IMF) called for the enactment of austerity measures in those countries and provided financial bailouts for Greece and Ireland, primarily to preserve the stability of the euro.

Who invented the term PIIGS?

Which countries are referred to as PIIGS? Portugal, Italy, Ireland, Greece, and Spain make up the letters. All arepart of the European Union. The use of the acronym goes back to 1979 and describes countries in the EU considered to have troubled economies. However, there’s no known inventor of the term.

Whats the meaning of pigs?

1 : a hoofed stout-bodied animal with a short tail and legs, thick bristly skin, and a long flattened snout. 2 : a domestic pig developed from the wild boar and raised for meat. 3 : a person who has a disagreeable or offensive habit or behavior (as being dirty, rude, or greedy)

What does Pigs stand for in world geography?

Acronym. Definition. PIGS. Portugal, Ireland, Greece and Spain (economics)

What is the pig principle?

“Pig” is slang for an investor who is greedy, having forgotten their original investment strategy to focus on securing unrealistic future gains. A pig is an investor overcome by greed and leads to gluttonous and speculative market behavior that may ultimately result in disaster.

What are the problems in Greece?

The Greek populace has suffered painful budget cuts, tax increases, high unemployment, and shrunken living standards and social services. Many still fear their future. During the crisis, the Greek government and its European and International Monetary Fund (IMF) creditors made tough and even courageous decisions.

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