Michael Cembalest, Chief Investment Officer with JP Morgan, dissects the European Debt Crisis using Legos. From the article:
In case you can’t tell what the lego figures represent, here is a quick reference guide:
1. Spain, Italy, Euro Periphery
2. CDU, CSU, FDP, the three German parties controlling the German Bundestag, their parliament
3. Finland
4. Social Democrats and Greens
5. Bundesbank, the German central bank
6. IMF
7. European Central Bank
8. Poland
9. France
10. EU taxpayers in Core countries
11. EU Commission and Euro Group Finance Ministers
12. EU bondholders and shareholders
You can read the full report from Michael here in PDF format.
[…] the Cracks Friday we re-visit the European debt crisis (recall last year’s post – A Technical Explanation of the European Debt Crisis – With Legos). As the glaring issue is Greece’s debt load and the possible collapse of the Euro, we […]