I detest maps like this for one simple reason. They take something that is easy to understand, place it on a map, and then distort the map beyond reason. Where did Africa go? Where did China go?
Is the size of the country related to the debt to GDP ratio? No, the size of the country has no relationship to the color of the country. Is the size of the country related to external debt? The CIA, which they list as their source, has the external debt of the United States is $13.45 trillion, while the U.K. has an external debt of $9.08 trillion. Is the U.K. larger than the U.S? How can you tell?
Take a look at the United States. According to the map it has a 30% to 60% debt to GDP ratio. If you look at the U.S. National Debt Clock, our debt to GDP ratio is 89%. How did they get a ratio of less than 60% then? Simple. They ignored the asterisk. The CIA calculated a debt to GDP ratio of 52% for the United States, if you ignored the United States Treasury bonds held by Social Security, Federal Employees, Medicare and Medicaid.
Following the map of Europe’s external debt, here comes the same data put into global context. This map is a modified version of a work that has been made for the Times newspaper (featured in the printed edition on March, 25) in their coverage of the 2010 budget. As this picture shows, it is not only the Eurozone, but most Western countries in a deep crisis – global inequalities the other way around this time – this is a topic that will be with us for months (and years) to come and still a long way to go on the road to recovery. So, keep this picture in mind:
