Hacker News Reader

Government budgets of sovereign nations that own their own currency are not the same that households and can borrow endlessly, in fact they don't need to borrow at all.

The countries in the Eurozone don't own the Euro: for all effects is a foreign currency. Their finances work like a household.

PIGSS is the european version of "fly-over states", a derogatory term that should be avoided.

States or nations that are not doing has well economically deserve respect and help or we should stop calling ourselves a Union.

This is ridiculous. Flyover states is about contempt for people and a culture, PIIGS is about poor economic and financial decision making. Germans, Danes and Czechs don’t think the Irish, Italians and Spanish are racists who might assault a trans person or an Indian if they see them whereas some Californians do think that way about Texas or Wyoming.

Because Germans prefer saving money to buying exports of Italy or Spain or Greece, or go on holiday there.

Ironically, for the time being, the British do all of the above.