XAT 2013 Question Paper

Question 97

Which of the countries in Europe were most hit by sovereign debt crisis?

Solution

When a country is unable to pay its debts, it is said to have been hit by the sovereign debt crisis. In Europe, Greece filed for bankruptcy. Spain, Iceland, and Portugal are also affected by the sovereign debt crisis. Together, these countries are known by the acronym PIGS. Therefore, option D is the right answer. 

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