While we are transfixed by troubles with three nuclear power reactors in Japan, there's another crisis growing. In the Euro-zone.
The Euro-Zone consists of those countries in the European Union who share a common currency - the Euro. (Wiki map of the Euro-zone.) Green represents the countries who are obliged to join the Euro but haven't yet. The real eyeopener, however, is the relationship of government debt to their GDP. Wiki table. (Click on the last column to sort by percentage.) It is visually illustrated by in this EuroStat graph. And this map based on the same data.
The real problem becomes clear. The debt vs. GDP ratio of the Euro-Zone area as a whole is worse than Spain or Portugal. Sorted by descending order graph. The panic is compounded by who all that debt is owed to -- other EU countries.
Australian comedians John Clarke and Bryan Dawe illustrate the problem in this spoof quiz show video. Transcript
No comments:
Post a Comment