We may think of ham or bacon when we read about PIGS, but in the aftermath of the financial crisis and in the midst of the Herculean efforts being undertaken to help Greece avoid default, PIGS is typically used as an acronym referring to the troubledeurozone economies of Portugal, Italy, Greece and Spain.Although it looks like Europe will bail out Greece to avoid a messy sovereign default, with a reluctant Germany putting up a big share of the coin, the announcement of a $146 billion bailout package, which was promoted to stop a crisis of the Euro, seems to have done nothing to solve the problem.
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