PIIGS
acronym for portugal, italy, ireland, greece, and spain.
as of 2010, these five countries are the most financially troubled of the euro zone and are facing consequences varying from drastic austerity measures to possible forced dis-ssociation from the euro currency.
the crisis originated in greece when its sovereign debt ratings were cut in december of 2009. it was later revealed in february of 2010 the greek government hid m-ssive amounts of debt using complex financial derivatives with the aid of us investment bank goldman sachs. in may of 2010, greece was forced to implement a series of austerity measures in an effort to reduce the government’s deficit in order to accept renegotiated loan agreements.
spain later implemented austerity measures and also saw its sovereign debt ratings cut by rating firm standard & poors. portugal, italy, and ireland were also added and now make up what is considered the five most at-risk countries of the eurozone.
many observers are quick to point out the fallout of piigs is a precursor of what’s coming to america.
Read Also:
- pikaj00
l33t speak for pikachu. used in some online games by young hax0rs wanting to be l33t. “pikaj00?” “pikame!” “pikaeveryone!” “j00 r pikaj00 k?”
- pinkface
the cinematic phenomenon in which straight guys play gay by way of trying to “lay claim to h-m-s-xuality as a ‘topic’” bruno’s schtick is straight-up pinkface…the movie attempts to claim that he’s not just a minstrel, but an instigator and investigator—like michael moore, but less subtle—revealing the h-m-phobia buried in american culture.
- pissedified
justification of ones actions while under the influence of alcohol dave actions were p-ssedified, he would of never grabbed t-ts mcgee’s new b–bs had he not had that last jager bomb
- Pitch a Windshield
instead of pitching a tent for temporary shelter, “pitching a windshield” refers to sleeping in your vehicle. chris- “i was too drunk to drive home from the bar last night, so i had to pitch a windshield in the parking lot.”
- Pizza Roulette
a prank wherein you hang out in front of an apartment complex, waiting for the inevitable pizza delivery guy to show up (with someone else’s order) – and you buy it. a real-life “man in the middle” attack, so to speak. roommate: “i’m bored – anyone down for pizza roulette?” you: “h-ll yeah – lemme […]