IDEAS home Printed from
   My bibliography  Save this article

Public Finances Crises Within The Countries Of Piigs Group



    () (Institute of Law, Administrations and Management, University of Kazimierz Wielki, Bydgoszcz,POLAND)


The world financial crisis, started by the collapse of the mortgage market in USA, gave rise to the deterioration of public finances in many European countries. The countries on which the impact was strong are Portugal, Ireland, Italy, Greece and Spain (or PIIGS). Already during 2010, Greece and Ireland would have both had to declare their bankruptcy but for the external financial aid. The purpose of the present paper is to highlight the causes that gave rise to the critical situation of the countries referred to as PIIGS, the scale of the phenomenon and the measures taken to improve the given situation.

Suggested Citation

  • Grzegorz Górniewicz, 2011. "Public Finances Crises Within The Countries Of Piigs Group," JOURNAL STUDIA UNIVERSITATIS BABES-BOLYAI NEGOTIA, Babes-Bolyai University, Faculty of Business.
  • Handle: RePEc:bbn:journl:2011_2_3_gorniewicz

    Download full text from publisher

    File URL:
    File Function: Revised version, 2011
    Download Restriction: no

    More about this item


    financial crisis; public finance; public debt.;

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bbn:journl:2011_2_3_gorniewicz. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Cornelia Pop). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.