Friday, April 30, 2010

The PIIGS are up to their eyeballs in debt

To get an idea of the debt crisis faces the euro have a look at this table from here giving the debt refinancing and deficit financing requirements of the PIIGS countries for the next four years.  The required amount is close to $2 trillion and it is suggested that a full bailout could come to close to $1 trillion.

PIIGS Debt Finance

To get an idea of much money is needed to keep these countries going a picture of a trillion dollars in €100 dollar bills is below the fold.

 

 

trillion

And the PIIGS need two of these!

Hat-tip

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