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I always say that I am a writer of the periphery -- periphery district, periphery Japan of Asia, and periphery country of this planet.
Companies located in an EU periphery country, with strong balance sheets and demand insulated from worries about their homeland (i.e. international exposure etc), may suffer from illogical moves in the markets that punish anything connected to the country regardless.
At the height of Europe's sovereign debt crisis, instead of functioning as a true lender of last resort for banks, it behaved as any other lender would and made increasingly more margin calls as the value of banks' collateral--risky periphery country debt--was falling.
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Bond yields in periphery countries might shoot up on the renewed fears of a breakup.
Admittedly the periphery countries need to make structural reforms, just as Germany did after reunification.
Germany would actually benefit from the so-called periphery countries' recovery.
"Spain continues to be perceived by investors as part of the safer periphery countries group".
The impact of fiscal austerity has been to raise debt/GDP ratios among periphery countries, not lower them.
In the euro zone, the ongoing problems of the periphery countries could still plunge the financial sector into crisis.
The model is first calibrated to stylized facts of the economic development during the accession process in the EU periphery countries.
Indeed, higher wages in surplus countries will promote a more symmetric adjustment in the eurozone – relying less on declining wages in the periphery countries.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com