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March 29, 2010 A Coffee Break With..., Culture & People No Comments

I have been wondering: Why has Italy lost its status as a PIG?

For many years a (derogatory) term was routinely applied to the economies of Southern Europe – PIGS. It stands for Portugal, Italy, Greece, Spain. (Club Med was the parallel term denoting a holiday mentality to economics). But in the last two years the “I” has been either duplicated (ie PIIGS) or now seems more likely to simply have changed from Italy to Ireland.

It seems that many economists have been predicting the financial meltdown of Italy for many years (including myself) but it just won’t go. I think this says a lot about Italy and Italians – they have the ability to scrape along the bottom and survive against all odds.

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