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Untangling Europe’s “web of debt”

11 May 2010

Untangling Europe’s “web of debt”

This post examines the so-called “web of debt” across the EU, a graphic published in a recent New York Times article. By using gross debt statistics, and regardless of the borrower’s sector, the chart misses the obvious point that the markets are worried primarily about government debt. Indeed, the logic of the chart forces the authors into almost the completely wrong conclusion about the UK!

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