forexrebatesbrokers pig five cashback forex, which is the forex discount brokersternational economic media on the five weaker European economies derogatory name, to the economic downturn, the forexbonusrebate crisis in Portugal (Portugal), Italy (Italy), Irel forexdiscountbrokers (Ireland), Greece (Greece) and Spain (Spain), the five European countries because of its English initials combination PIIGS Similar to the English word pigs (pigs), so the name of the eurozone member countries sovereign debt crisis is intensifying and has the potential to spread, has become one of the main factors threatening the global economic recovery, and the five European pig countries (Piigs, portugal Portugal, italy Italy, ireland Ireland, Greece, spain) the word has also become the international The latest buzzword in the financial markets European pig five, which is the international economic media on the five weaker European economies derogatory term for the economic downturn, the debt crisis of Portugal (Portugal), Italy (Italy), Ireland (Ireland), Greece (Greece) and Spain (Spain), the five European countries because of the combination of its English initials PIIGS similar to the English word pigs (pigs), so the name is outlined in the five European pigs, the eurozone member countries sovereign debt crisis is intensifying, and the trend of spreading, has become one of the main factors threatening the global economic recovery, and the five European pigs (Piigs, portugal Portugal, italy Italy, ireland Ireland, Greece, spain Spain) has also become the latest buzzword in the international financial markets crisis background European debt crisis originated in Greece, followed by Portugal, Ireland because of low economic growth, high fiscal deficit, the three countries are unable to repay the high sovereign debt, forced to the EU and the International Monetary Fund to seek assistance fortunately its economic output is relatively small, accounting for only 6% of the eurozone GDP, not enough to overturn the entire eurozone economic crisis The third largest economy in Europe, Italys 10-year bond yields climbed to 6.40%, the fourth largest economy, Spain rose to 6.22%, both close to the 7% bailout threshold of the two countries bonds to the German government bond spread also rose to 416 and 419 basis points analysts said that yields and interest rate spreads will increase the cost of borrowing for both countries, increasing the difficulty of financing if they do not try to Due to the serious impact of the debt crisis on market confidence, investors have been selling risky assets in the euro area, the Athens Stock Exchange index fell to its lowest point and the upcoming maturity of more than 20 billion euros of debt to make the Greek government in a more difficult situation, in the escalating fear of debt default, the Greek government bonds issued more difficult, Spain, Portugal and Greece The stock markets of the three countries have also accumulated a decline in the European sovereign debt crisis is spreading and expanding, the five European pig countries are at the cusp of the crisis the five European pig countries are facing the dilemma of neither the rapid formation of external surpluses through exchange rate devaluation, but also can not easily restart private sector borrowing, but also can not cut the deficit to revitalize the economy of the eurozone countries economic fundamentals recently did not appear great changes, the market is bearish Europe, indicating that investors are on the European debt problem lost confidence in the analysis of the reasons for the five European pig countries in 2011, the economy is difficult to improve, and even the possibility of deterioration, 2011 Portugals debt to gross domestic product (GDP) will climb from 77% in 2009 to 91% in 2009 Irelands economy shrank by 7.5%, the government deficit up to 11.7% of GDP, nearly four times the ceiling set by the EU Greek debt was 113% of GDP in 2009 and is expected to rise to 135% in 2011 European Commission data also show that Spains debt was 55.2% of GDP in 2009 and is expected to surge to 74.3% in 2012, with the Bank of Spain estimating that the countrys economy contracted by 3.6% in 2009, with unemployment at around 20%. Standard & Poors previously lowered the countrys debt outlook, more than 1/3 of the families who bought homes with Italian mortgages face difficulties in repaying their loans [2] Since the outbreak of the Greek debt crisis in 2009, the European Union has actively sought ways to deal with the crisis has not only failed to lift, but to expand the high welfare system is the main cause of its high income-payments Eurostat data show that the EU spending on social security accounted for 27.2% of its member states The high welfare system maintained by debt not only increases labor costs and reduces economic competitiveness, but also reduces the liquidity of fiscal spending and weakens the governments ability to stimulate the economy, which eventually leads to a slowdown in economic growth, shrinking tax revenues, and countries can only borrow to repay their debts and fall into a vicious cycle The existing single currency system in the eurozone provides a way for the spread of the European debt crisis, according to the International Monetary Fund. The lack of central control of government budgets by eurozone institutions means that a countrys tax and spending decisions can become a problem for all other countries through their impact on the currency Because of the single currency, eurozone countries in debt distress cannot use currency devaluation and inflationary instruments to tide them over, and can only seek fiscal austerity or external assistance Fiscal austerity will undermine existing welfare policies and provoke a popular The total size of the European Financial Stability Facility (EFSF) of 750 billion euros is not enough to assist the five European pig countries with debts of 3 trillion euros to prevent the debt crisis from spreading to other countries with consequences According to the World Bank, the total GDP of the five European pig countries in 2010 was 4.1961 trillion U.S. dollars, accounting for about 30% of the eurozone GDP, the fall of the five countries will make the European debt crisis The inevitable ripple throughout the eurozone experts predict that Cyprus may become the next country involved in the European debt crisis, Cyprus holds 31 billion euros of Greek bonds, equivalent to 1.7 times its GDP, topping the eurozone, and thus has a lot of exposure to Greek debt if the eurozone countries are influenced by the Italian West, reducing aid to Greece, the Cypriot economy will be affected by it, into the crisis Belgium in The European debt crisis, if it can not rebuild the government in time to restore public finances, it will be difficult to cope with the debt ratio of up to 97% of GDP, and ultimately only follow the footsteps of the five European pigs France, the second largest economy in the eurozone, also began to question the financial stability of data show that the French banking sector holds 45% of the total Italian debt, than its investment in the remaining four European pigs total exposure of $ 253.8 billion higher Italy If the debt situation collapses, France is afraid that it will not be able to survive alone