Madam, – Why does the Irish media insist on using the ridiculous and insulting “P-I-G-S” acronym in its financial reports, when referring to Portugal, Ireland, Greece and Spain? The term has been actively denounced by the Portuguese and Spanish press, and perhaps we should follow suit.
It seems the acronym is more aptly suited to the British and American bond and currency traders who coined the term. – Yours, etc,So here's my suggested alternative:
People who think the term "PIGS" shouldn't be used clearly haven't considered that any alternative could be much worse. If Britain's finances deteriorate to the point where it qualifies for membership of "PIGS" we might see a new acronym coined - "Fringe Europeans who Can't Keep their Economies Running Sustainably".