The “P” in PIIGS, Portugal, is the next euro nationa to bring heartburn to the union.
Fitch has come out with a negative rating on the nation’s debt, accordign to ForexLive, following disappointment with the country’s latest budget.
At this point a downgrade is “more likely than not.”
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See Also:
- EU Privately Freaking Out About Greece And The PIIGS Breaking Apart The Union
- Reach Capital’s Nigel Hart: Don’t Worry About The PIIGS, They’re The Building Blocks Of The Market’s "Wall Of Worry"
- The PIIGS Get Slaughtered, As Greek Bond Situation Deteriorates