282:
The currently vulnerable economies of
Portugal, Greece and Spain are again being grouped together due to high national budget deficits relative to GDP, and high, or rising, government debt levels. Greece has a government debt to GDP level of 120%, Portugal 90% and Spain 54%. Italy is not suffering to the same extent, and the country's economy returned to growth in the third quarter of 2009. Also, despite a rise in unemployment in March to almost 9%, Italian output has grown rapidly recently. For this reason, Italy is often replaced in the acronym, rather arbitrarily, by Ireland (which, in 2007, became the first eurozone country to enter recession).
38:
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So, when in 1995 Italy — along with the other southern countries of
Portugal, Greece and Spain — finally made it to the borderless Europe, signs of elation were palpable ... The euphoria, however, did not last long. European clerks in Brussels soon started referring to the Giovannios-come-lately with
281:
With all this uncertainty, an unfortunate acronym is back in fashion (despite being widely considered to be derogatory). PIGS usually refers to the economies of
Portugal, Italy, Greece and Spain, and dates back to the 1990s (when it referred generally to the southern economies of the European Union).
402:
The real problem came when this analysis was extended to the rest of the heavily indebted periphery — commonly referred to in such accounts as the PIGS (Portugal, Italy, Greece, and Spain) group. Ireland was sometimes thrown in as a second 'I'. This was unfair and inaccurate, particularly as regards
837:
FT Alphaville and the FT are not allowed to say PIIGS a certain porcine acronym. But we are in good company. Neither, it seems, is
Barclays Capital. … For those who haven't experienced the wrath of southern Europe, the forbidden-acronym is said to cause offense because it can be construed as having
723:
Disse europeiske landene har i finansverdenen gått under økenavnet PiGS-land (Portugal, Italia, Hellas (Greece) og Spania) siden 1997. Etter at finanskrisen inntraff, og det ble økt fokus på europeiske lands statsfinanser, har også Irland og
Storbritannia blitt knyttet til PIGS, noe som gjør at man
807:
It isn't just touchy government ministers in
Portugal, Italy, Ireland Greece and Spain who don't like the highly appropriate acronym PIGS to sum up the troubled regions of the eurozone (the 'i' seems to be used for Ireland and Italy). The FT has a near-ban on the insulting phrase, and now Barclays
860:
The FT was accused of racism after its Lex column ran a piece about four southern
European economies on September 1 headlined 'Pigs in muck'. The article almost caused a diplomatic incident when Portugal's Economy Minister Manuel Pinho said 'I am deeply offended that anyone would label my country
753:
Unlike in 2008, now it is no more just PIGS that drag the EU down. The PIGS club has now expanded, with
Ireland first, and France next, as the newly qualified members of the PIGS, making it PIIGGS (adding another 'I', for Ireland and another 'G', for Gual
159:
average and a government surplus as late as 2006. However, taking on the guarantee of banks' debt, the Irish government budget deficit rose to 32% of GDP in 2010, which was the world's largest. Ireland then became associated with the term, replacing
694:(65 ) Objections to proposed policies PIGS: Portugal, Italy, Greece and Spain PIIGS: with Ireland PIIGGS: with United Kingdom (Great Britain) The crisis is seen as a justification for imposing fiscal austerity (66 ) on Greece in exchange for ...
142:
The term originated in the 1990s with the increased integration of the EU economies, and it was often used in reference to the growing debt and economic vulnerability of the
Southern European EU countries. It was again popularised during the
370:
The acronym "PIGS" was first coined in the 1990s to describe
Portugal, Italy, Greece and Spain – four peripheral European Union states with the weakest economies. In 2008, it became PIIGS when Ireland was added after its banking
428:
610:
PIIGGS-Staaten (Portugal, Italien, Irland, Griechenland, Großbritannien, Spanien) gibt einen Hinweis auf Bevorstehendes. Linke Krisenverarbeitungen Die Wahrnehmung dieser dem F inanzmarktkapitalismus innewohnenden neuen
784:
an acronym which in a further sign of contagion concerns among financial commentators grew to include Ireland, with PIIGGS, and further still to register the debt-binging United States itself in PIG IS
861:
with this term.' PIGS has been used as an abbreviation for Portugal, Italy, Greece and Spain since at least 1999, when they and eight other countries adopted the euro as a common currency.
417:
671:김민주, 이정아, 김정원, 이재구 - 2010 - Preview - More editions 김민주, 이정아, 김정원, 이재구. 는 영국(Great Britain)과 아일랜드(Ireland)의 재정 위기도 PIGS 못지 않다고 하여, 두 나라를 더한 PIIGGS라는 말도 나왔다. 2 0 1 1 『 뭄 숀 옌 0 ×
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que l'argot communautaire a affublés d'un sobriquet peu élégant dans sa signification anglaise : « pigs », pour Portugal, Italy, Greece, Spain.
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Da considerare che anche Nazioni diverse dai Paesi PIIGGS hanno dovuto fronteggiare la crisi. ...e poi il Regno Unito con l' acronimo "PIIGGS"
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measures and sovereignty losses. GIPSI is deemed even more poignantly racist for its pun on the pejorative English term for the
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pejorative undertones. That doesn't solve the problem that 'Portugal, Italy, Ireland, Greece and Spain' is a mouthful.
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framing that was utilized to blame South European populations for the general economic crisis, thereby legitimizing
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an unflattering acronym: Portugal, Italy, Greece, and Spain — the PIGS, no less, as Lindsay Waters reported.
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Squilibri e crisi nelle determinazioni quantitative d'azienda. Il contributo della dottrina italiana
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Die Vermessung der sozialen Welt: Neoliberalismus - Extreme Rechte - Migration im Fokus der Debatte
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Spain and Ireland, which had been running budget surpluses in the years leading up to the crisis.
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of the late 2000s and expanded in use during this period. In the 1990s to late 2000s,
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Some analysts use PIIGS to include Italy - Europe's longstanding biggest debtor.
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These terms are widely considered derogatory and their use was curbed by the
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is a derogatory acronym that has been used to designate the economies of the
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to reflect the sequencing he believed would take place. Sometimes, a second
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932:"The "Wretched of Europe": Greece and the Cultural Politics of Inequality"
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was not included in this term; the country was still in the midst of its "
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875:"Framing PIGS: patterns of racism and neocolonialism in the Euro crisis"
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418:"While Greece flails, are the rest of the stricken Pigs taking off?"
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Introducing Globalization: Ties, Tensions, and Uneven Integration
27:
Acronym for the economies of Portugal, Italy, Greece and Spain
171:
After the crisis started in 2008, Karim Abadir used the term
466:"Europe's sick 'PIGS' may dampen EAC's monetary union hopes"
30:"PIIGS" redirects here. For the 2017 documentary, see
388:
Zombie Economics: How Dead Ideas Still Walk among Us
267:. London: Aspermont UK. 21 May 2010. Archived from
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808:Capital has banned it too, for being offensive.
348:
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168:, with Italy also indicated as the second "I".
724:nå både har samlebetegnelsene PIIGS og PIIGGS.
8:
325:, Durham: Duke University Press, p. 2,
155:" period, with debt significantly below the
390:, Princeton University Press, p. 229,
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549:"Is the economic crisis over (and out)?"
296:"L'Allemagne au coeur du débat français"
653:김민주; 이정아, 김정원; 이재구 (25 November 2010).
245:
41:A graph showing the economic data from
850:Holloway, Robert (15 September 2008).
772:. John Wiley & Sons. p. 261.
592:Gudrun Hentges; Bettina Lösch (2011).
415:Dawber, Alistair (20 February 2015).
86:Net international investment position
7:
1023:Pejorative terms for European people
797:James Mackintosh (5 February 2010).
139:or to bail out over-indebted banks.
533:from the original on Jan 31, 2024.
523:"Europe's PIGS: Country by country"
443:"Europe's PIGS: Country by country"
135:were struggling to refinance their
766:Matthew Sparke (5 December 2012).
706:Niels Ruben Ravnaas (2010-05-10).
498:from the original on Feb 16, 2024.
476:from the original on Dec 22, 2017.
453:from the original on Jan 31, 2024.
25:
581:from the original on Feb 3, 2022.
464:Kenneth Agutamba (12 July 2015).
1003:Economic country classifications
822:"Anything but porcine at BarCap"
738:"Too small is 'too big' to fail"
431:from the original on 2022-05-24.
598:. Springer-Verlag. p. 22.
547:Abadir, Karim M. (2011-09-30).
294:Daniel Vernet (24 April 1997).
88:of PIIGS plus some other states
736:S. Gurumurthy (May 26, 2010),
708:"Banket gjennom giganthjelpen"
688:. epubli. 2011-11-02. p.
355:"Investing in PIIGS: Portugal"
353:Sarah Krouse (19 March 2012).
208:in 2010. PIGS is considered a
145:European sovereign-debt crisis
1:
891:10.1080/0031322X.2015.1128056
820:Alloway, Tracy (2010-02-05).
629:. FrancoAngeli. p. 354.
1008:Late modern economic history
930:Christou, Anastasia (2018).
510:An Introduction To The PIIGS
321:Roberto M. Dainotto (2006),
998:Business intelligence terms
873:Van Vossole, Jonas (2016).
852:"Pigs in Muck and Lipstick"
553:Review of Economic Analysis
195:, is added to the acronym.
164:or changing the acronym to
1039:
799:"STUPID investors in PIGS"
29:
685:European Debt Crisis 2011
623:Guido Migliaccio (2013).
230:List of country groupings
131:. At the time these five
948:10.1177/0160597616664169
127:, was coined to include
119:of 2009–14 the variant
936:Humanity & Society
710:. Na24. Archived from
659:. 미래의 창. p. 123.
565:10.15353/rea.v3i2.1457
494:. CIA. 22 March 2023.
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1018:Political pejoratives
879:Patterns of Prejudice
803:Blogs Financial Times
692:. GGKEY:UEDZH7FPXQR.
386:John Quiggin (2012),
84:
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529:. 11 February 2010.
470:The New Times Rwanda
449:. 11 February 2010.
117:European debt crisis
858:on April 20, 2010.
323:Europe (in Theory)
261:"PIGS slaughtered"
235:Sick man of Europe
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828:. Financial Times
779:978-1-118-24110-3
666:978-89-5989-148-1
636:978-88-204-1460-3
605:978-3-531-92756-5
97:Southern European
16:(Redirected from
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754:(France)).
718:2012-04-25
241:References
964:151782073
956:0160-5976
917:220341363
909:0031-322X
747:19 August
742:The Hindu
488:"Ireland"
364:21 August
275:21 August
214:austerity
988:Acronyms
579:Archived
531:Archived
527:BBC News
496:Archived
474:Archived
451:Archived
447:BBC News
429:Archived
301:Le Monde
224:See also
157:Eurozone
101:Portugal
77:for 2009
75:eurozone
73:and the
55:Portugal
371:crisis.
191:or the
187:), for
149:Ireland
129:Ireland
67:Germany
47:Ireland
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210:racist
189:France
185:PIIGGS
111:, and
109:Greece
69:, the
43:Greece
960:S2CID
913:S2CID
181:PIGGS
173:GIPSI
166:PIIGS
162:Italy
125:GIPSI
123:, or
121:PIIGS
113:Spain
105:Italy
59:Spain
51:Italy
32:Piigs
18:PIIGS
952:ISSN
905:ISSN
785:US).
774:ISBN
749:2012
661:ISBN
631:ISBN
600:ISBN
392:ISBN
366:2012
327:ISBN
277:2012
204:and
93:PIGS
944:doi
895:hdl
887:doi
611:...
569:hdl
561:doi
183:or
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