Ireland leaves the PIIGSty

Ireland famously was included in the "PIIGS" group - Portugal, Italy, Ireland, Greece, and Spain. But now Ireland may have exited the group, having implemented tight budget controls:

“Ireland has left the pigsty for the time being and it has come out smelling of roses,” said Stuart Thomson, who helps oversee more than $100 billion as chief market economist at Ignis Asset Management in Glasgow, Scotland. “It doesn’t face the same problems that the southern Mediterraneans face this year.”

From Bloomberg this morning.