The five eurozone countries with a deeply troubled economy are Portugal, Ireland, Italy, Greece and Spain, earning them the nickname PIIGS. The eurozone agreed to a standby mechanism to save Greece, but the move has not won much confidence from government-bond buyers, according to The Economist. "Yet beyond Greece there are questions over several other euro-area countries: the five so-called PIIGS, which face many of the same economic challenges as well as the ability to cause headaches in Brussels (and Berlin)," The Economist notes.

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