Saturday, 4 February 2012

EuroBank Zombie Super-highway

The trucks below are stacked with €100 bills. Each pallet is €100,000,000 - Approximately the size of the bonuses that the CEO's of big banks got during the financial crisis (round 1!!).

€2.91 Trillion: Total amount borrowed by Bankrupt nation's citizens

€2,910,426,000,000 (€2.91 million millions).
13 biggest banks. Each bank has its own lane.
Total Convoy Length: 26.7km (16.59 miles) if you put all 13 lanes together.

The people of Greece, Ireland, Italy, Portugal & Spain owe €2,91 trillion Euros to these 13 banks.

These are only the 13 biggest banks, there are many more that lent money, that together add up to a much bigger debt numbers.

3 pallets of cash would cover the cost of all the trucks shown below, if you bought them new. You'd have enough left over for a lifetime of joy. Each truck has 20 such pallets. 

The Banks.

You can see the full graphic and country and bank specific data at:
Demonocracy - PIIGS Debt

Portugal Unemployment 13.6%
Ireland Unemployment   14.5%
Italy Unemployment         8.9%
Greece Unemployment   19.2%
Spain Unemployment     22.9%

Spanish and Greek youth unemployment is over 45%.

Eurozone Unemployment

As recession bites and unemployment climbs in the PIIGS I wonder how these debts will be repaid? The Euro bailout funds will have to be massive. Who will throw money at those funds? Why would any sane individual throw money at these funds?

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