Debt and Default: Update 15-01-2011

Here some interesting and updated charts on the current bubbles, interesting to see how Greece has been in default for over 51% of the time since its independence. Debt is rising fast and today Fitch has downgraded Greek credit rating to junk, nothing to be surprised about though it underlines clearly as we are not out of the wood by any means and that our recent optimism on the successful PIIGS' bond sales is only a temporary respite from the incoming debt storm.