What was the beginning year of the European debt crisis that particularly affected Portugal, Italy, Greece, and Spain?
PIGS (economics) PIGS or PIIGS or PIIGGS is an acronym used in economics and finance. The PIGS acronym originally refers, often derogatorily, to the economies of the Southern European countries of Portugal, Italy, Greece, and Spain. During the European debt crisis, the term was also increasingly used to refer 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 crisis.
Greek withdrawal from the eurozone The Greek withdrawal from the eurozone is the potential exit of Greece from the eurozone, primarily for the country to deal with its government-debt crisis. This conjecture is often referred to as "Grexit", a portmanteau combining the English words "Greek" and "exit". The term "Graccident" (accidental Grexit) was coined for the case that Greece exited the EU and the euro without intention. These terms first came into use in 2012 and have been revitalised at each of the bailouts made available to Greece since then.