Fall Through the Cracks Friday: A Technical Explanation of the European Debt Crisis – With Legos

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.