There’s an awesome graphic on the New York Times’ website that shows how much the EU countries all owe each other. It all comes down to Britain, France and Germany loaning Ireland, Greece, Italy, Portugal and Spain some serious money.
Taking a moment to look at how much Germany is owed, you can see that…
- Ireland owes them $184 billion
- Greece owes them $45 billion
- Italy owes them $190 billion
- Portugal owes them $47 billion
- Spain owes them $238 billion
…you get $704 billion!
Even more stunning is how much France is owed.
- Ireland owes them $60 billion
- Greece owes them $75 billion
- Italy owes them $511 billion (daaaaaaaaaamn!)
- Portugal owes them $45 billion
- Spain owes them $220 billion
…that’s a staggering $911 billion these countries owe to France!
This is nuts. No wonder everyone is freaking out that Germany wants to stop loaning these other countries more money. And no wonder Germany wants to stop loaning money as well!
Click the graphic to enlarge on the New York Times website.
Europe's Web of Debt
The majority of Ireland’s “debt” is due to the presence of a large number of foreign banks / asset management agencies in Dublin’s IFSC (International Financial Services Centre). Any funds customers of those institutions have on deposit is seen as being “owed” by Ireland.
The article below suggests these monies account for almost three quarters of Ireland’s external debt.
http://www.finfacts.ie/irishfinancenews/article_1019228.shtml
Most of the countries owes moneys to each other? At the end will be a k as in 3-5 years from today, Who is going to help each other?
What the future holds for us. Will be better or worst with all the new technology we have today. The young generation has to know how to handle it. We are on our way out and them has to out it together to get ahead.
I do understand what is the problem. Every one of them due owe moneys to the EU community or the German factor who created the EU community. No one knows how to
respect and how to handle the economy today. No one pays attention. Every one of them
looking for big salaries and good life. Now all of us have to pay the price. Follow the EU
community that shows all them owes moneys on a big figure. Good luck!
Thanks for the vital tips I have really learned through the blog.
These figures are very misleading at best as these are not Net Investment Positions between the countries mentioned. For instance Italy’s total debt was $2.223 trillion US at the time of the article was written with 19% or $422 billion US owed out to foreign countries the remainder owed internally to Italian bond holders and other Italian institutions. Your figures combined that Italy owes to France and Germany alone is $701 billion US which would be more than 31% of its total debt. As one blogger astutely commented is that countries owe each other and as such you are not looking at what Germany and France not only owe to Italy but to the other countries as well. To repeat the figures which you posted are not net figures.
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FROM EUROPE
Who wrotethis article? Lol
THIS ARTICLE CONTAIN FALSE INFORMATION
ITALY IS THE THIRD LARGEST CONTRIBUTOR AT YEAR TO THE EU AND ITALY NEVER GOT BAILOUT
AND ANYBODY THAT HAVE A KNOWLODGE ABOUT ECONOMY KNOW THAT
THE COUNTRIES THAT GOT BAILOUT ARE IRELAND NORTHERN EUROPE PORTUGAL GREECE AND SPAIN
Anybody is able to just search on the Web the countries that got bailout in Europe and you will don’t find italy simply because italy didn’t got bailout
Now check on the Web EUROPEAN WEALTH REPORTS : WHY MEDIAN ITALIANS ARE FAR RICHER THAN GERMANS