Courtesy of The New York Times, this chart will help the layman economist at least attempt to understand all of the currents and potential cross-currents of the Euro Debt crisis.
The thing that is missing is the exposure of the US banking system to the crisis in the form of derivatives, as the actual ownership of the sovereign debt by US institutions is "relatively" small.
As a tip, the buzz word you will often hear in the media to let you know that the Eurozone debt crisis is the topic they are about to talk about, is Greece.
For the chart and description of the chart at the NYT, click here.
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