Irish woes may spread to other PIIGS

Ireland is one of the countries included in the PIIGS bracket, an acronym for the peripheral economies of Portugal, Ireland, Italy, Greece and Spain, which are generally viewed as having the most threatening debt problems of any countries in the Eurozone.

Some investors and analysts fear that the recent focus by markets on Ireland’s debt troubles – debts largely concentrated in the country’s banking and property sectors – could quickly shift to other overly indebted countries in peripheral