debt-crisis-featuredd

[Video] The European Debt Crisis Visualized

[Video] The European Debt Crisis Visualized

Greece continues to vigorously deny allegations that they are preparing to default if they cannot reach a deal with their debtors. Today, S&P downgraded Greece’s bonds to junk status, prompting even more ministers to opine on the negotiations. “Given the we have lost a lot of time, I am skeptical,” said Peter Kazimir, Slovakia’s Finance Minister. “Greece is moving ever closer to the abyss.”

This is all while, as we showed yesterday, that the Eurozone Crisis is still far from over.

But how did it all begin in the first place? The above video visualization from Bloomberg recently came out and does a great job explaining the background of the Euro Area, the origins of how countries such as Greece, Portugal, Spain, Italy, and Ireland accumulated such burdensome debt, the issue of major cultural differences within Europe, and the difficulties of being bound by a monetary union with no unified fiscal policy.

subscribe_tovc2



  • PlasticMoney888

    A monetary union with a unified fiscal policy is not a union it’s a takeover. A new huge country with different regions. I bet 90% of Europeans that never had the opportunity to vote for this never even though about this happening when it was first introduced.

  • Arjun Ramnath

    Amazing animation. Loved it. Wonder where it will all go. How long can the status quo continue. In the end, debt always leads to hard economic times – either as deflation or as currency failure.

  • Didi Roulias

    Nice animation. Not very accurate but nice to watch

Mornings are better with Visual Capitalist.coffee_email1

Thank you!
Given email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.