Question: During Which debt crises did PIGS  used to refer to the economies of Portugal, Ireland, Greece, and Spain, four EU member states

full_context: Document 1: Group of Seven: The Group of 7 (G7) is a group consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. These countries represent more than 64% of the net global wealth ($263 trillion) and all have a very high Human Development Index. The G7 countries also represent 46% of the global GDP evaluated at market exchange rates and 32% of the global purchasing power parity GDP. The European Union is also represented within the G7.
Document 2: United States debt-ceiling crisis of 2013: The 2013 United States debt-ceiling crisis centered on the raising of the federal government debt ceiling, and is part of an ongoing political debate in the United States Congress about federal government spending and the national debt. The crisis began in January 2013, when the United States reached the debt ceiling of $16.394 trillion that had been enacted following the debt ceiling crisis of 2011.
Document 3: Cypriot euro coins: Cypriot euro coins feature three separate designs for the three series of coins. Cyprus has been a member of the European Union since 1 May 2004, and is a member of the Economic and Monetary Union of the European Union. It has completed the third stage of the EMU and adopted the euro as its official currency on 1 January 2008. In 2008 and 2009, the Mint of Finland was chosen to mint the coins (except the €2 commemorative coin of 2009, which was minted in the Koninklijke Nederlandse Munt (Royal Dutch Mint)). Since 2010, the mint of Cypriot euro coins is the Mint of Greece.
Document 4: Portugal: Portugal (Portuguese: ] ), officially the Portuguese Republic (Portuguese: "República Portuguesa" ] ), is a sovereign state located on the Iberian Peninsula in southwestern Europe. It is the westernmost country of mainland Europe, being bordered to the west and south by the Atlantic Ocean and to the north and east by Spain. The Portugal–Spain border is 1214 km long, making it the longest uninterrupted border within the European Union. The republic also includes the Atlantic archipelagos of the Azores and Madeira, both autonomous regions with their own regional governments.
Document 5: PIGS (economics): PIGS or PIIGS or PIIGGS is an acronym used in economics and finance. The PIGS acronym originally refers, often derogatorily, to the economies of the Southern European countries of Portugal, Italy, Greece, and Spain. During the European debt crisis, the term was also increasingly used to refer to the economies of Portugal, Ireland, Greece, and Spain, four EU member states that were unable to refinance their government debt or to bail out over-indebted banks on their own during the crisis.
Document 6: European debt crisis: The European debt crisis (often also referred to as the Eurozone crisis or the European sovereign debt crisis) is a multi-year debt crisis that has been taking place in the European Union since the end of 2009. Several eurozone member states (Greece, Portugal, Ireland, Spain and Cyprus) were unable to repay or refinance their government debt or to bail out over-indebted banks under their national supervision without the assistance of third parties like other Eurozone countries, the European Central Bank (ECB), or the International Monetary Fund (IMF).
Document 7: Accounting and the late 2000s financial crisis: There were many events that led to the financial crisis of the late 2000s, and many differing views on which parties were primarily responsible. The main groups that have been identified for playing a major role in the crisis include: investment bankers, credit rating agencies, financial statement preparers, the Federal Reserve, investors, loan originators, auditors, and borrowers among others. For a detailed background on the causes of the crisis and the parties that contributed please reference:Causes of the 2007-2012 global financial crisis and “History of Fair Value Issues” The purpose of this article is to expand on the role that accountants specifically played within the late 2000s financial crisis.
Document 8: List of companies of Spain: Spain is a sovereign state located on the Iberian Peninsula in southwestern Europe. It is a middle power and a major developed country with the world's fourteenth largest economy by nominal GDP and sixteenth largest by purchasing power parity. It is a member of the United Nations (UN), the European Union (EU), the Eurozone, the Council of Europe (CoE), the Organization of Ibero-American States (OEI), the North Atlantic Treaty Organization (NATO), the Organisation for Economic Co-operation and Development (OECD), the Schengen Area, the World Trade Organization (WTO) and many other international organisations. Spain has a "permanent invitation" to the G20 summits that occur generally once a year.
Document 9: European Central Bank: The European Central Bank (ECB; German: "Europäische Zentralbank (EZB)", French: "Banque centrale européenne (BCE)") is the central bank for the euro and administers monetary policy of the eurozone, which consists of 19 EU member states and is one of the largest currency areas in the world. It is one of the world's most important central banks and is one of the seven institutions of the European Union (EU) listed in the Treaty on European Union (TEU). The capital stock of the bank is owned by the central banks of all 28 EU member states. The Treaty of Amsterdam established the bank in 1998, and it is headquartered in Frankfurt, Germany. s of 2015 the President of the ECB is Mario Draghi, former governor of the Bank of Italy, former member of the World Bank, and former managing director of the Goldman Sachs international division (2002–2005). The bank primarily occupied the Eurotower prior to, and during, the construction of the new headquarters.
Document 10: Letter of ECB to Italy on 5th August 2011: On 5th August 2011, during dramatic crisis of European banks, the former governor of ECB, Jean Claude Trichet, together with Mario Draghi, wrote a "secret" letter to Italian government, at the time led by Silvio Berlusconi, in which they pushed for a series of economic measures "to be implemented as soon as possible". By complying of these measures, the support of ECB was implicitly conditioned by massive purchase of Italian bonds on the secondary market.
Document 11: European migrant crisis: The European migrant crisis, or the European refugee crisis, is a term given to a period beginning in 2015 when rising numbers of people arrived in the European Union (EU), travelling across the Mediterranean Sea or overland through Southeast Europe. These people included asylum seekers, but also others, such as economic migrants and some hostile agents, including Islamic State militants disguised as refugees or migrants.
Document 12: 2008 Latvian financial crisis: The 2008 Latvian financial crisis, which stemmed from the global financial crisis of 2008–2009, was a major economic and political crisis in Latvia. The crisis was generated when an easy credit market burst, resulting in an unemployment crisis, along with the bankruptcy of many companies. Since 2010, economic activity has recovered and Latvia's economic growth rate was the fastest among the EU member states in the first three quarters of 2012.
Document 13: Euro summit: The Euro summit (also referred to as the eurozone summit or euro area summit) is the meeting of the heads of state or government of the member states of the eurozone (those EU states which have adopted the euro). It is distinct from the "EU summit" held regularly by the European Council, the meeting of all EU leaders.
Document 14: Enlargement of the eurozone: The enlargement of the eurozone is an ongoing process within the European Union (EU). All member states of the European Union, except Denmark and the United Kingdom which negotiated opt-outs from the provisions, are obliged to adopt the euro as their sole currency once they meet the criteria, which include: complying with the debt and deficit criteria outlined by the Stability and Growth Pact, keeping inflation and long-term governmental interest rates below certain reference values, stabilizing their currency's exchange rate versus the euro by participating in the European Exchange Rate Mechanism (ERM II), and ensuring that their national laws comply with the ECB statute, ESCB statute and of the Treaty on the Functioning of the European Union. The obligation for EU member states to adopt the euro was first outlined by the Maastricht Treaty of 1992, which became binding on all new member states by the terms of their treaties of accession.
Document 15: List of companies of Portugal: Portugal is a country on the Iberian Peninsula in Southwestern Europe. It is the westernmost country of mainland Europe. To the west and south it is bordered by the Atlantic Ocean and to the east and north by Spain. The Portugal–Spain border is 1214 km long and considered the longest uninterrupted border within the European Union.
ground_truth: The European debt crisis