Robbing Peter to pay Paul.
Interesting chart about the Greek debt, via the NYT:
Banks and governments in these five shaky economies owe each other many billions of euros — converted here to dollars — and have even larger debts to Britain, France and Germany. Arrow widths are proportional to debt amounts.
YIKES!
ReplyDeleteNot sure what to make of this chart, which clarifies the convoluted financial situation.
Does seem like a house of cards.