The oft amusing Jim Bianco suggests that instead of using the phrases PIIGS, we give these acronyms a try:
* DEBT – Dubai EU Brazil Turkey
* SICK – Spain Iceland Columbia Kazakhstan
* DUMP – Dubai Ukraine Mexico Portugal
* PUKE – Portugal UK EU
* STUPID – Spain Turkey UK Portugal Italy Dubai
It is an amazing collection of names of countries with debt problems.Contagion is likely because there are so many countries that are on the brink. The question is what will be the safe assets in this environment.
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