Europe’s Tangled Web of Sovereign Debt

Europe’s Tangled Web of Sovereign Debt

When the hammer comes down on Europe’s sovereign debt mess, it’s going to be a real doozy.

Check out this chart the New York Times ran which illustrates who owes who money in Europe.  It’s a complete mess!

The best part is that not only do the PIIGS all owe each other a lot of money – which will never be repaid – but they owe even more to Britain, France, and Germany.

Look out below!  This is a house of cards that looks like it could topple real fast.

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