PIGS (economics)

PIGS or PIIGS or PIIGGS is a jargonistic, and offensive, acronym used in economics and finance. The derogatory term refers to the economies of: Portugal, Ireland, Greece and Spain, four EU member states that were unable to refinance their government debt or to bail out over-indebted banks on their own during the debt crisis; or originally Portugal, Italy, Spain and Greece, four European countries.