You may have seen this already, but courtesy of the New York Times: A spiffy graphic illustrating the colossal debt position of Portugal, Ireleand, Italy, Greece and Spain. It’s worth noting that the UK has a national debt of around £952 billion (or around US$1.42 trillion), so somewhere around the same level as Italy. That figure represents around 53% of British GDP, while Italy’s figure represents a proportion just less than twice that. Click for full-size.
I don’t think there’s much I can say that this video doesn’t illustrate a whole lot better.
Though this NYT graphic of budget surplus forecasts is pretty fun too.