"In the historical, sociological and especially economic debates, "Southern Europe" and associated derogatory acronyms have often encompassed a negative connotation. However, the PIGS appear to share many crisis-related dynamics and problems, perhaps even more than common structural features. This is likely to be a consequence of turbulence on euro-periphery financial markets as well as uniform policies imposed onto these countries. If these problems are common, though, it is likely that the way out may still involve several countryspecific policies."

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