The silver lining in the European financial crisis is how the names of the various countries involved lend themselves so well to plays on words. Portugal, Italy, Ireland, Greece, and Spain were collectively PIIGS. Greece has had the highest profile of all the PIIGS, but I’m not sure if that’s because they are truly in deeper trouble than the others or if it’s more due to marketing. A possible Greek break from the Eurozone has been dubbed the Grexit. That’s catchier than Spanic (Spanish Panic) or Quitaly. Mohamed El-Erian is worried about a Greek economic accident – a Graccident. I guess the only way to stand out from the other eight talking heads that are all brainstorming doomsday scenarios on live TV is to create a strong apocalyptic brand. Although maybe things will get better – a Grecovery?
