PIIGS
(en)
the five eurozone nations that were considered weaker economically following the financial crisis: Portugal, Italy, Ireland, Greece and Spain
The southern nation-states (the so-called "PIIGS": Portugal, Ireland, Italy, Greece, and Spain) have private financial institutions no more stupid or myopic than banks in Germany or France
the reason they were affected more is because their systems were less robust
notable
7 years, 5 months ago