The Risk of Default by PIIGS (Portugal, Ireland, Greece, and Spain)

PIIGS 's default risk constitutes domestic default of the PIIGS country as an interesting subject for several reasons. The term PIIGS refers to the countries of Portugal, Ireland, Greece and Spain; since these countries are part of a big economy, the euro zone is composed of 18 member countries. Among these provinces, the PIIGS is still the weakest member and their financial situation gives people reasons to focus on the eurozone and other global economic impacts. In this article I will briefly explain the background of these countries (mainly Greece) and management of financial records and policies that lead to crises.

The financial problems (PIIGS) in Portugal, Ireland, Italy, Greece and Spain are not due to deficits or debt. That's because these countries gave up the most valuable assets owned by which country - their monetary sovereignty - and they are preventing them from repaying their obligations by creating money. As usual, Dead Hawk did not learn anything and kept lamenting the pointless debt / GDP ratio. Because it is a classic Apple / Orange comparison, it is pointless (the molecule is a cumulative measurement for 200 years) The denominator is a measure of productivity for one year. It is not related to both)

Europe is an important part of the world economy. European PIIGS countries (Portugal, Ireland, Italy, Greece, Spain) are protected by the European Union and the International Monetary Fund, and their mandatory gravity countermeasures are forced to be offered to citizens. In addition to being uncomfortable with seriousness, these measures equally reduce total demand and may put a heavy burden on these countries. On the other hand, Greece defaults to loans from the International Monetary Fund. In recent decades, the Chinese economy has developed at astonishing speed. China's GDP is second only to the US, second only to the Earth, but many market analysts believe China will outweigh the US in a short time. Nevertheless, the Chinese government is still implementing capital controls to keep cash in the suburbs.

Today it is known as EU-EU. Until a while ago, PIIGS Portugal, Ireland, Italy, Greece, Spain (for guys who like political language, this is a guardian) was treated by the International Monetary Fund. Spain has reached nearly 50% of the unemployment rate of young people for a while - there is a wide range of blogs there. Because Italians are Italians, they have normal political turmoil, but paperwork is supported. If Spain is included in any type of bracket in Ireland you will find that the system is not appropriate.