GIIPS

First there was Greece, and then the rest of what at first were called the PIIGS, but now, in a spate of political correctness, are called the GIIPS.

NYT > Home Page By FLOYD NORRIS 2011

First there was Greece, and then the rest of what at first were called the PIIGS, but now, in a spate of political correctness, are called the GIIPS.

NYT > Global Home By FLOYD NORRIS 2011

The "exposures" of U.S. lenders to major European banks and the stressed nations of Greece, Ireland, Italy, Portugal and Spain, known as the GIIPS, are smaller than those to some of the continent's larger countries, Fitch said.

BusinessWeek.com -- Top News 2011

Greece, Italy, Ireland, Portugal and Spain, known as the GIIPS, have about 2.9 trillion euros of government bonds outstanding, according to data compiled by Bloomberg.

BusinessWeek.com -- Top News 2011

Germany has increasingly taken the position that the GIIPS will be rescued on its terms or not at all.

NYT > Home Page By FLOYD NORRIS 2011

CEO Jamie Dimon of JP Morgan said yesyerday that the bank will stay in the GIIPS for "largely social, and partially economic" reasons, although pulling out had been considered.

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Germany has increasingly taken the position that the GIIPS will be rescued on its terms or not at all.

NYT > Global Home By FLOYD NORRIS 2011

This was followed today by Societe Generale, which issued its equivalent of a "everything's okay here" statement, stating it had €4.3bn "low, declining and manageable sovereign exposure to the GIIPS Greece, Ireland, Italy, Portugal and Spain."

Telegraph.co.uk - Telegraph online, Daily Telegraph and Sunday Telegraph 2011

As the GIIPS default, German banks will be in trouble.

NYT > Global Home By FLOYD NORRIS 2011

As the GIIPS default, German banks will be in trouble.

NYT > Home Page By FLOYD NORRIS 2011