In recent months it has become fashionable to speak of the PIGS (or even PIIGS) economies in derisory terms. The troubles of Portugal, Italy, Greece, Spain and sometimes Ireland have spawned an acronym and drawn investor attention.
To find out whether the acronym is merited, Credit spoke to Alfredo Pastor, Spanish secretary of state for economic affairs from 1993–1995, a former World Bank economist and now a professor in the Department of Economics at IESE Business School in Navarre.
Is it unfair
The week on Risk.net, July 7-13, 2018Receive this by email