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FYI: It's been five years since the Financial Times first made use of one of the less flattering economic acronyms: PIIGS. Back then, Portugal, Ireland, Italy, Greece and Spain were seen as economic basket cases, and it was widely assumed that one or several of them would eventually default on their massive debt burdens. Regards, Ted http://www.streetauthority.com/international-investing/are-these-greatest-success-stories-europe-30602195