PIIGS

PIIGS are mostly ethical, if bad with money

User Image razib | February 10, 2010
By now, you probably know that there is a specter haunting Europe, and that specter is Argentina. Greece's debt crisis is putting the spotlight on the PIIGS nations of the Eurozone, Portugal, Ireland, Italy, Greece and Spain. One thing to note is that besides mismanaging their fiscal situation, 4 of he 5 PIIGS are more ethical than the Swedes. Sweden's total fertility rate per woman is ~1.67. Ireland = 1.85 Greece = 1.51 Spain = 1.39 Italy = 1.41 Portugal = 1.49 Ireland is the bad seed here, being profligate and unethical. The downside to being ethical is that it makes the welfare state…