Sunday, February 1, 2009

Pigs, can't fly - But they sure do try (!)

Pigs (economics) 
PIGS is a xenophobic acronym used by some journalists in finance and economy to refer the four main countries of southern Europe: Portugal, Italy, Greece, and Spain.[1] These are Eurozone countries that have had mixed economic perfomances in the last few years, and therefore the acronym seems just a case of bad taste that aims to pass as witty and smart. [2] These countries suffer from large current account deficits and high unemployment. But little more can be said to put them together, besides their location in the Mediterranean and rich cultural heritage, which do not fit with the derogatory term[3] The Economy of Ireland is sometimes added as an additional "I."[4]

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