Sunday, May 02, 2010
The PIIGS are in a whole lotta debt
NYTimes: Europe's Web of Debt
An interesting graphic analysis from the NY Times. Can't be long now 'til the whole house of cards collapses !
Makes me wonder what the UK owes and to whom
Posted by tudorian @ 08:30 PM (1665 views) Add Comment
10 Comments
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1. alan said...
Can't be long before the speculators look beyond Spain and see the UK, which seems to have a bigger % defecit. Can't see why it hasn't happened already.
Could the Euro cut Greece off? Maybe.
But, what signal would that send...?
2. Goldbug99999 said...
Clearly the "winning" strategy is to be the first to default.
3. vacuouspolitician said...
Scary stuff ...if true. You almost sense things are getting ready to implode...
4. This comment has been removed as it was found to be in breach of our Blog Policies.
5. mdmick said...
Economics is not my strong point but am I the only one to see that Italy and Ireland could help each other out a bit?
Arrow from Ireland to Italy: 18 dollars owed
Arrow from Italy to Ireland: 46 dollars owed
Are you thinking what I am thinking ?
6. tenyearstogetmymoneyback said...
It would be interesting to see a much larger version of this including far more countries.
The other thing that needs to be shown is who the lenders and borrowers are. Presumably
the likes of pension funds who (despite the efforts of Gordon Brown) still have large sums
of money to invest try and spread their risk by investing in several countries.
You only have to think back to Iceland, where local authorities were investing their money,
to see how complicated things are.
7. taffee said...
reality is the world economic 'boom' is a complete farce...the last 10 years has just seen a debt binge for political reasons I would suggest
I fear the only way out is a very nasty depression
8. cyril said...
Nice chart. They should do one for the USA and China then they'd reall have a heart attack.
9. taffee said...
try this
www.usdebtclock.org
scary stuff
10. tudorian said...
@mdmick
I believe the chart shows money owed by sovereign nations to private entities (banks etc), rather than sovereign nations to each other. Very little of the debt (if any) can be cancelled out between parties.