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PIGS
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A now-outdated financial-media acronym for Portugal, Italy, Greece, and Spain, used during the European debt crisis to describe countries with struggling economies and heavy government debt.
"Analysts once grouped Portugal, Italy, Greece, and Spain together under the label "PIGS" during the eurozone crisis."
"The term PIGS fell out of use as those economies stabilized."
How to Use PIGS
Learner’s notesIn plain EnglishA dated economic-journalism shorthand, not the plural of the farm animal "pig" — capitalized as PIGS when used this way.
When to use it
Considered offensive and outdated by many; rarely used in serious writing today.
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Analysts once grouped Portugal, Italy, Greece, and Spain together under the label "_____" during the eurozone crisis.