PIIGS
Business & Finance abbreviation · Economics
| Stands for | Portugal, Ireland, Italy, Greece and Spain |
|---|---|
| Categories | Business & Finance |
PIIGS stands for Portugal, Ireland, Italy, Greece and Spain, an economics abbreviation.
Acronym used mainly during the 2010 to 2012 eurozone debt crisis for five economies with high public debt or deficits, banking problems or weak competitiveness. Many considered it pejorative.
Example: Bond yields on the so-called PIIGS soared as investors feared a breakup of the euro.
Usage notes
Earlier versions, such as PIGS, left out Ireland or Italy. Several publications and banks discouraged the label because of its derogatory tone, and GIPSI was used as a less loaded rearrangement. Greece, Ireland and Portugal received EU-IMF bailouts, and Spain received support for its banks.
Related abbreviations
More economics abbreviations
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- NTB – Non-tariff barrier
- ODA – Official development assistance
- PBoC – People's Bank of China
- PCE – Personal consumption expenditures
- PED – Price elasticity of demand
- PMI – Purchasing Managers' Index
- PPF – Production possibilities frontier
- PPI – Producer price index
- PPP – Public-private partnership
- PSU – Public sector undertaking
- QE – Quantitative easing