PIIGS countries pick up

Since the euro crisis Portugal, Ireland, Italy, Greece and Spain have counted among the weakest countries in the Eurozone. But nonetheless the financial situation in the so-called PIIGS countries is improving, writes the business paper Les Echos: "In less than a week three members of the notorious PIIGS countries ... have passed the market test with little difficulty. Spain, Greece and Portugal have managed to place their bonds at acceptable conditions. This has not happened in months. No doubt it is still too early to talk of a return to normality. The rates offered for these bonds still testify to a high level of exigency on the part of the markets. But one thing is certain: the panic is over."

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