John Archer wrote:
I assume that's net borrowing (additional borrowing over any paid back), and not simply gross otherwise the graph isn't very useful.
If so, a quick visual integration gives the total Spanish bank borrowings over the last 11.5 years as 1.5 trillion euros (1.5 x 10^12) .
I can't find the figures but I wondered what the total eu budget was over the same period so as to put this borrowing in some kind of context. Of comparable order perhaps?
The problem is that no one knows or cares ... it's funny money ... they make it up as they go along, and if people start to understand what is going on, they change the parameters or method of recording ... or simply lie. The truth of it is that, after a while spent trying to work it all out, most people end up shrugging their shoulders and walking away. It will collapse in due course, the "little man" will get screwed and the "toffs" will make a mint. T'was ever thus.