PIGS (economics)
![A graph showing the economic data from Greece, Ireland, Italy, Portugal, Spain, the United Kingdom, Germany, the EU and the Eurozone for 2009.](/Images/godic/202501/15/Piiggs_balance_sheet_20092946.png")
PIGS or PIIGS or PIIGGS is a jargonistic, and offensive, acronym used in economics and finance. The derogatory term refers 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 debt crisis; or originally Portugal, Italy, Spain and Greece, four European countries.