We have been looking for an acronym better than PIGS (Portugal Italy Greece Spain) which could aggregate the smallest countries in Europe that are:

We have been looking for an acronym better than PIGS (Portugal Italy Greece Spain) which could aggregate the smallest countries in Europe that are:

1 Not part of the European Union

2 Have been or still are a Tax Haven

3 Are extremely beautiful

4 Are extremely wealthy on a per-capita income basis

And we have found a better acronym:

San Marino + Monaco + Andorra + Liechtenstein = SMAL

What would be the fifth "L" country? Perhaps Luxembourg so that we complete the acronym SMALL