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.
Winter of 2010–11 in Europe The winter of 2010–2011 in Europe began with an unusually cold November caused by a cold weather cycle that started in southern Scandinavia and subsequently moved south and west over both Belgium and the Netherlands on 25 November and into the west of Scotland and north east England on 26 November. This was due to a low pressure zone in the Baltics, with a high pressure over Greenland on 24 November.