PIGS is a horrible acronym. But this is how the financial markets refer to the troubled and heavily-indebted countries of (Some analysts use PIIGS to include The euro has been battered over the past month as some even started to fear the break-up of the eurozone. Now the European Union has agreed a deal to rescue Just how bad a situation are the PIGS in, and how does that compare with the Economy, in European Union: Thirteenth-largest Latest Gross debt in 2010, forecast: 125% of Gross debt in 2007: 94.5% of Jobless rate: 9.7% Population: 11,260,402 Stocks performance in 2010: -10.5% (to 11 February) Now, it is suffering from its huge spending - and widespread tax evasion - as it finds itself unable to cope with its huge debt loads and meet EU deficit rules. It remains to be seen whether the EU's deal on Economy, in European Union: Fifteenth-largest Latest Gross debt in 2010, forecast: 82.9% of Gross debt in 2007: 25.4% of Jobless rate: 13.3% Population: 4,450,014 Stocks performance in 2010: -1.5% (to 11 February) The It became the first eurozone country to fall into recession in 2008. It has pumped 7bn euros into its two biggest banks, Allied Irish Banks and Bank of Ireland, and created a state-run agency to handle their bad debt. The Irish economy emerged from recession last year, but there was widespread public anger at the level of public spending cuts that have been made. Economy, in European Union: Fifth-largest Latest Gross debt in 2010, forecast: 66.3% of Gross debt in 2007: 36.2% of Jobless rate: 19.5% Population: 45,828,172 Stocks performance in 2010: -13% (to 11 February) While its banks have withstood the economic downturn better than in the With the International Monetary Fund expecting Economy, in European Union: Seventeenth-largest Latest Gross debt in 2010, forecast: 84.6% of Gross debt in 2007: 63.6% of Jobless rate: 10.4% Population: 10,627,250 Stocks performance in 2010: -9.7% (to 11 February) The country has vowed not to leave the eurozone, with its finance minister telling the Economy, in European Union: Third-largest Latest Gross debt in 2010, forecast: 80.3% of Gross debt in 2007: 43.8% of Jobless rate: 7.8% Population: 61,634,599 Stocks performance in 2010: -4.2% (to 11 February) Although the The With an election this year, Labour and the Conservatives have been sparring over the exact size of spending cuts and many economists have raised concerns that the |
Τρίτη 16 Μαρτίου 2010
Europe's PIGS: Country by Country
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