The Euro subzone

The Club Med (Open) List:

Italy, Spain, Greece,...

Other larger Euro subzones are identified as well:

- PIGS (Portugal, Italy, Greece, Spain); http://www.elliottwave.com/freeupdates/archives/2009/12/08/Portugal-Italy-Greece-Spain-PIGS-Cracks-in-the-European-Union.aspx

- PIGSI (the above ones + Ireland).

But further EU members beyond the Eurozone must be added to the list as “applicants" for the financial disaster (UK is the most significant one).