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Portugal, Italy, Ireland, Greece and Spain - PIIGS |

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| This article is part of WikiProject Definitions. Consider editing to improve it. View articles referencing this definition. |
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 [1]



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