Financial Crisis
Eurozone debt crisis: the PIGS at risk
As Portugal becomes the latest European Union country to admit it could need an EU bail-out, here are the other countries, or PIGS, at risk.
Portugal
Government deficit: €15.7bn
Deficit as a proportion of GDP: 9.3 per cent
Government debt: €127.9bn
Government debt as a percentage of GDP: 76.1 per cent
Ireland
Government deficit: €22.9bn
Deficit as a proportion of GDP: 14.4 per cent
Government debt: €104.5bn
Government debt as a percentage of GDP: 65.5 per cent
Greece
Government deficit: €36.1bn
Deficit as a proportion of GDP: 15.4 per cent
Government debt: €288bn
Government debt as a percentage of GDP: 126.8 per cent
Spain
Government deficit: €117.3bn
Deficit as a proportion of GDP: 11.1 per cent
Government debt: €560.5bn
Government debt as a percentage of GDP: 53.2 per cent
EU limits under the now-defunct stability and growth pact
What Brussels recommends
An annual budget deficit no higher than 3% of GDP (this includes the sum of all public budgets, including municipalities, regions, etc)
A national debt lower than 60% of GDP or approaching that value.
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/8135036/Eurozone-debt-crisis-the-PIGS-at-risk.html
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