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Tuesday 23 February 2010

PIGS become PIIGS, will this affect STUPID?

Italy has joined the PIGS (Portugal, Ireland, Greece & Spain) in the list of EU countries that the Markets think most at risk of defaulting on their sovereign debt. The STUPID countries (Spain, Turkey, United Kingdom, Portugal, Italy and Dubai) are the countries not just including the EU. It has just struck me that the original I in PIGS was Ireland but the original I in STUPID was Italy. Either way I suppose it is PIIGS & STUPIID; not so memorable but oh so much scarier...

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