The P.I.G.S.

Salam...

What do these countries have in common?

Portugal

Italy

Greece

Spain

The answer is these countries are facing a similar economic environment notably a hell of a financial crisis. They are debt-ridden and could possibly becoming bankrupt countries. As a general understanding, these countries spent more than what they had and in order to sustain they borrow but could not pay in the end. Simple as that! 

I got to know from one of my European friend that most Greeks have been living and relying very much on the subsidies but not contributing back to the economy which cost the country billions of dollars! To add salt to the wound, they ain't productive as well and this could dampen the country' growth.

All in all, I am no economist and had never scored better than a C grade in Economics subject when I was in the university back then, but one thing I know for sure, whatever we earn, we should contribute it back into the economy - it is a kind of a give and take thing. Then only, I think we could strike a balance on the economic cycle and this makes sense as to why we have always been obliged to pay tax or zakat so that one economy could grow. 

As for the case, tomorrow will be the last day for all tax payers in Malaysia to declare their income tax. So, go and do whatever you need to do before the dateline. Nothing is gratis in this lucky world by the way! :-)

See ya...

Rhymee