Slaughtering the PIIGS
By Ian BremmerThe opinions expressed are his own.
Nobody likes to be called PIIGS. For years, Europe’s so-called peripheral countries — Portugal, Italy, Ireland, Greece and Spain — have complained about this acronym, but the euro zone’s sovereign debt problems have only entrenched it further. Yet, it’s time to acknowledge that the PIIGS have a point. They don’t deserve to be lumped together. Their actions and their circumstances have sharply diverged over the past three years.
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Comment: The world can't do it if the Greeks don't want to do it. Spain and Portugal and Italy do it and they'll make it. The biggest problem down the road, won't be Greece nor Spain nor Portugal nor Italy but rather Ireland with the Irish wanting to do it but being unable to do it.
Nobody likes to be called PIIGS. For years, Europe’s so-called peripheral countries — Portugal, Italy, Ireland, Greece and Spain — have complained about this acronym, but the euro zone’s sovereign debt problems have only entrenched it further. Yet, it’s time to acknowledge that the PIIGS have a point. They don’t deserve to be lumped together. Their actions and their circumstances have sharply diverged over the past three years.
Full text
Comment: The world can't do it if the Greeks don't want to do it. Spain and Portugal and Italy do it and they'll make it. The biggest problem down the road, won't be Greece nor Spain nor Portugal nor Italy but rather Ireland with the Irish wanting to do it but being unable to do it.
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