PIIGS is an acronym used by international bond analysts, academics, and by the international economic press that refer to the economies of Portugal, Italy, Ireland, Greece, and Spain, especially in regards to matters relating to sovereign debt markets.

The euro zone’s weakest economies- the so-called PIIGS –  look to be most under the hammer, although each approaches the crisis in different ways. Trouble in one could affect sentiment towards the wider euro zone (Source: The Globe and Mail).