Periphery countries

Eurozone.

In relation to the Eurozone, the 'periphery' is a collective name for the five countries in the Eurozone with relatively weaker economies:

Portugal, Ireland, Italy, Greece and Spain.

These five countries are sometimes known as 'PIIGS', from the initial letters of their names, or 'SWEAP' (South and West Euro Area Periphery).

Core and periphery diverge

"The eurozone periphery, except for Ireland, remains depressed relative to the core countries. Spain and Portugal are recovering at a glacial pace, but Italy remains mired in a decade-long recession. In Greece, domestic demand is cripplingly low...

Meanwhile, Germany and the Netherlands have ballooning trade surpluses.

The imbalances that caused the eurozone crisis have not gone away."

The Treasurer magazine, Cash Management Edition April 2019 p21, Frances Coppola, economics and finance commentator and speaker.

See also

• Core countries
• European Monetary Union
• Eurozone
• eurozone crisis
• Fiscal policy
• Grexit