But this is how the financial markets refer to the troubled and heavily-indebted countries of Europe - Portugal, Ireland, Greece and Spain. Greece has dominated the concerns of investors since late last year, when concerns over whether it will be able to pay off the 300bn euros in government debt it currently owes. The euro has been battered over the past month as some even started to fear the break-up of the eurozone. Now the European Union has agreed a deal to rescue Greece - with perhaps other wrecked economies to be helped at a later date. It is an important signal to the markets that France and Germany are standing shoulder-to-shoulder with Greece, a BBC correspondent says. Greece's debt crisis has put pressure on the euro, and it will dominate the EU summit now under way in Brussels. There was an instant reaction on the markets, where traders welcomed news of the deal. Major European markets rebounded from earlier falls and the euro rose against the US dollar.