RSS FeedPortugal Italy (Ireland) Greece Spain (P.I.G.S)
Posted by Senan
So, just when we thought things couldn't get any worse, now we've been indelibly inked as part of the PIGS moniker. The term is normally used in investment and political circles to refer to Portugal, Italy, Greece, and Spain. The fact that its reference implies negativity and dirt is no accident. The PIGS are the 'black sheep' of Europe; the bold kids. Of course the last few weeks we have all seen how Greece has handled it's entry in the common European currency...badly; the others also have huge problems economically.
And now Ireland has been slipped into the group. Yes, a big investment bank has recently sent out a memo instructing its employees to no longer refer to Ireland as one of the group. But mud sticks.
We 5 are the guys who need bailing out. From the early days when Ireland held out its hand to Common Agriculture Policy (CAP) money, to latter day bank guarantees and ECB loans. We like to party. We worry about the consequences as we nurse our hangovers later. And we never learn. Yes we take some of the right steps but always always a little too late. And some years down the line I predict the P.I.I.G.S. will still be alive and well and still living it large.
You only live once!!
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