The derisive acronym "PIIGS" refers to which of the following European countries and their economic statuses?

The derogatory acronym PIIGS refers to the following European countries and their economic statuses: Portugal, Ireland, Italy, Greece, and Spain. These countries were collectively labeled as PIIGS due to their relatively weak economies, high debt levels, and struggles with economic stability during the European debt crisis. The term was often used in a derisive manner to highlight the perceived economic troubles faced by these nations, particularly in terms of high unemployment rates, austerity measures, and financial difficulties.