World economics made comprehensible for children under 10… and me.
JP MORGAN, a New York based financial services firm, has released a diagram in their publication Eye on the Market, which explains the Eurozone debt crisis with Lego men.
Angry chefs, medieval soldiers, and a Formula One driver show where each major player will shift the burden of bailout costs. Eye on the Market gives a full explanation of what each Lego figure represents. Below, a summary.
Photo: JP Morgan
1. The Euro Periphery: Portugal, Ireland, Italy, Greece and Spain
2. The CDU, CSU, and FDP parties, which control the Bundestag (German federal legislation)
4. The Green and Social Democratic parties, which oppose the Bundestag
5. Bundesbank, or German federal bank
6. The IMF
7. The European Central Bank
10. EU taxpayers in core countries, all looking peeved
11. The EU commission and Euro Group finance ministers
12. EU shareholders and bondholders