Barclays orders analysts to stop using "PIIGS" acronym

Hilarious

http://www.bloomberg.com/apps/news?pid=20601109&sid=aPxYA4rjLD18&pos=15

Feb. 5 (Bloomberg) -- At Barclays Capital, Piigs won’t fly.

The securities unit of London-based Barclays Plc told analysts yesterday not to use the acronym for Portugal, Italy, Ireland, Greece and Spain in notes to clients, according to a memo obtained by Bloomberg News. The mandate from Valerie Monchi was sent to research staff.

The Piigs nickname has grown increasingly popular in the last month as investors dumped assets in the euro zone’s smaller economies on concern the countries will struggle to control budget deficits. Stocks in Spain and Portugal slumped the most since 2008 yesterday, while yields on Greece’s 10-year bonds and Portugal’s 2-year securities have jumped to the highest levels against German bunds since the late 1990s.

 

It's funny indeed for all who have visited the UK to find out they felt the need to label southern europe as the PIGS region.

 

well, they r racists...:eek:

 

at least, in piggy land, you can still enjoy the sun and eat the food from your orchard

by the way, the I in PIGS stands for Ireland, not Italy alhough it seems to get stretched to PIIGS recently

 

How will they refer to Ireland, Dubai, Iceland, Oman and Thailand from now on? What about Denmark, Ohio, Uzbekistan, Columbia, Hungary and Estonia?

 

at first it was included Italy; countys of the south of europe:
portugal, italy, greece, spain

irland didnt have any problem until last year )))

 

CUNT acronym is also banned as well now (it represented Colombia,Uganda,Norway,Tahiti) countries.

 

Lithuania mexico antartica Oz.

 

There aren't enough countries that begin with the letter "O".

 

I could not think of any in the short time I had --

I knew there was a short one but it kept coming out as Osuna and Osama.