Global economy's external debt tangle

Excellent graphic in Times that captures the web of debt exposures among all major global economies. As the graphic shows, the consequences of a cascade of adverse events - defaults, contagion, credit contraction, and collapse of economic activity - can be potentially catastrophic.



(Click on the graphic to enlarge)

See also this interactive graphic.

Update 1 (24/12/2011)

An analysis of the age of debt.