PIGS (economics)

PIGS is an acronym used in UK economics and finance. The PIGS acronym originally refers, often derogatorily, to the economies of the Southern European countries of Portugal, Italy, Greece, and Spain. During the European debt crisis, the variant PIIGS, or even GIPSI, were also increasingly used to refer to the economies of Portugal, Ireland, Italy, Greece, and Spain, EU member states that were unable to refinance their government debt or to bail out over-indebted banks on their own during the crisis. Other variants included PIIGGS to refer to Portugal, Ireland, Italy, Greece, United Kingdom, and Spain.


PIGS is an acronym used in UK economics and finance. The PIGS acronym originally refers, often derogatorily, to the economies of the Southern European countries of Portugal, Italy, Greece, and Spain. During the European debt crisis, the variant PIIGS, or even GIPSI, were also increasingly used to refer to the economies of Portugal, Ireland, Italy, Greece, and Spain, EU member states that were unable to refinance their government debt or to bail out over-indebted banks on their own during the crisis. Other variants included PIIGGS to refer to Portugal, Ireland, Italy, Greece, United Kingdom, and Spain.
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