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PIIGS is an acronym that was first used during the 1990's to refer to the southern nations that are part of the eurozone. The nations are the following: Portugal, Italy, Ireland, Greece, and Spain.

The term became popular during the 2007-2010 financial crisis, as these economies had high government deficits compared to other eurozone nations.

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"Weakness of attitude becomes weakness of character."
Albert Einstein
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