Europe's debt muddle made scarily clear

No wonder France was in the vanguard of the Greece rescue plan - total up these loans and its 40% of their economy on the line ...

Who the hell lent them our money? Another of Gordon's wise moves no doubt. That man was a walking disaster.

If you add up all the money these countries owe Britain it's 415 billion$ or 286 billion£ so how come we our national debt is 170 billion£........do we actually owe 170+286??

An educated response would be useful......

It realy should be a case of Do Not pass go, DO NOT collect £200 , Go DIRECTLY to jail

These countries have rolled the dice just once too often and it's OUR throw next !!?

Maybe I'm being thick, but how come they owe each other money? Surely some of those debts net off against one another...

So what? For intellectual honesty, add China, Japan, US, UK and then let's see.

And what about credit default swaps, supposedly insuring sovereign debt, too? Who s covering whom for how much?

Want some really scary numbers? Here we go:

http://www.bis.org/publ/otc_hy0911.htm

http://www.occ.gov/ftp/release/2010-33a.pdf

And since Lehman, AIG, Bear we know how all of a sudden "notional" contract values can turn very real when the domino starts.

So we are talking about countries that are all using Euros (apart from UK). Why is the diagram in US Dollars?

EM

Why not net down debts between Nations and avoid some interest payments.

IF ONLY, If only our National debt was £170B. That figure is the annual deficit. I believe the debt is £800B and projected to go over the Trillion mark. Scary!

I don´t have any money problems although I´m just a simple person on a very low income. How is it that all those supposedly clever economists in every country have so many financial problems?

Martin.....well done mate.....the most sensible comment I've read in ages!

All very interesting but where's Jon Maguire when you need him?

No wonder the markets are nervous!

An example of; 'rules are for fools and guidance for the rest', in prcatice. Unfortunately, neither the fools or the rest have applied any financial common sense.

The Euro countries set out rules, which were then ignored by all the members.

German tax payers appear to be shouldering the greatest burden, which I can't see is equitaable.

This problem is going to get worse, before it get's better. Private investors, beware.

.........and I was an advocate of the UK joining the Euro a few years ago. Silly me!

If I could read this, I'd be even more concerned

Gaz, Im assuming that the debtors and creditors in each country are not the same people. Therefore unless the same people owe each other money it doesnt cancel out. The only mutual aspect is that they are in the same country.