What is PIIGS? The term for the countries that are believed to be the weak links of the euro zone: P.I.I.G.S. — which stands for Portugal, Italy, Ireland, Greece and Spain. Some news and economic organisation have limited or banned their use due to criticism regarding perceived offensive connotations. The term became popular during the 2007-2010 financial crisis, as these economies had high government deficits compared to other euro zone nations. Source: AskPips.com
