Portugal, Italy, Ireland, Greece and Spain - PIIGS

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-PIGS is usually used as a belittling acronym in economics for the countries of Portugal, Italy, Greece and Spain where the consensus is that these countries are dragging down the trade performance of the eurozone bloc. This term is used to define a country within the Eurozone which have large current account deficits and high unemployment. The deficits have reached upto 10 percent of the GDP for Spain and 14 percent for Greece in 2008 <ref>[http://my.opera.com/richardinbellingham/blog/portugal-italy-greece-and-spain-the-pigs-of-europe-are-causing-an-ouflow-of Portugal,Italy,Greece and Spain, the pigs of europe are causing an outflow of Industry And Investment From The Eurozone]</ref>+PIGS is usually used as a belittling acronym in economics for the countries of Portugal, Italy, Greece and Spain where the consensus is that these countries are dragging down the trade performance of the eurozone bloc. This term is used to define a country within the Eurozone which have larger current account deficits and higher unemployment as compared to the rest of European Monetary Union. The deficits have reached upto 10 percent of the GDP for Spain and 14 percent for Greece in 2008 <ref>[http://my.opera.com/richardinbellingham/blog/portugal-italy-greece-and-spain-the-pigs-of-europe-are-causing-an-ouflow-of Portugal,Italy,Greece and Spain, the pigs of europe are causing an outflow of Industry And Investment From The Eurozone]</ref>

Revision as of 14:05, October 10, 2008

PIGS is usually used as a belittling acronym in economics for the countries of Portugal, Italy, Greece and Spain where the consensus is that these countries are dragging down the trade performance of the eurozone bloc. This term is used to define a country within the Eurozone which have larger current account deficits and higher unemployment as compared to the rest of European Monetary Union. The deficits have reached upto 10 percent of the GDP for Spain and 14 percent for Greece in 2008 [1]







References

  1. Portugal,Italy,Greece and Spain, the pigs of europe are causing an outflow of Industry And Investment From The Eurozone
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