Interactive Timeline Of The 2011 Eurozone Crisis

Tyler Durden's picture

Looking back at the year it is amazing to think that just how much has already happened in the year that was, and still has at least one month left, unless of course the accountants have something to say about it and the calendar is cut short by a month or so to allign with Jefferies Fiscal Year End. Hopefully without jinxing any fireworks, we present one of the best lookbacks at what has transpired in Europe, courtesy of this interactive timeline from Reuters. Also hopefully without spoiling too much, here is the not so surprising ending - the Titanic sinks in the end.

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eureka's picture

UK & GBP and US & USD will collapse before continental Europe and EUR.

Vergeltung's picture

no way. I think you better re-study the underlying fundamentals.

dumbfounded's picture

You mean these fundamentals ? (Sorry that these numbers are not brand new)

I don't wish trouble uppon any country, but seriously can anyone here perhaps clarify why the UK is not in the deepest sh... of them all ?

oVErME's picture

I wonder why the Rothschilds have a unicorn on their shield...

eureka's picture


DUMBFOUNDED IS CORRECT - check his CIA link above


- so - when US'ians graduate from the Blowhorn "school" of economics (a.k.a. Bloomberg) - AND - factor in the specific percentage math (essential for any real understanding of comparative debt ratios) they will realize that 15% more in numerical debt is insignificant when your economy is more than twice as big as the runner up's.

US debt $15 TRIL/300 MILN people/$15 TRIL GDP (all bailed out, mostly financial services, derivatives)

EU debt $16 TRIL/650 MILN people/$30 TRIL GDP (highend manufactured goods/everything everyone wants)

Zero Govt's picture

Your point about Europes superior manufacturing base would be better placed saying it'll help Europe out of recovery faster, not delay the impending head-on collision with Debt Mountain any better than the USA's

the debt per head of population has no significance whatsoever ...most of this debt is simply going to implode (disappear completely) 

Europe looks like its going to blow first simply because as Napolean noted, an army marches as fast as its slowest infiantry... or in terms of debt crumbles first according to its weakest members (that'll be Greece and Ireland then) 

eureka's picture

No. Greece will default and be cut to lower or associated status. GPB implodes asap and EUR strengthens.

flattrader's picture

>>>can anyone here perhaps clarify why the UK is not in the deepest sh... of them all ?<<<

The UK has a separate currency and a separate central bank...just the the US and Japan.  So, the PIIGS get slaughtered first.  Other countries next.

Read this--

and note this section--

Whilst the mainstream press focuses on the bankrupting PIIGS the rest of the bankrupting sovereign states outside of the eurozone continue to fly under the radar, as illustrated by smug politicians in the UK attempting to lecture Europe on how to solve its debt crisis. However as the following table illustrates the debt crisis is likely to come knocking on the doors of the UK and Japan sooner rather than later.

Country Total Debt (Public+Private) % GDP 10 Year Bond Yield UK 500% 2.20% Japan 500% 1.00% Spain 380% 6.70% France 350% 3.75% Italy 320% 7.20% USA 300% 1.90% Germany 290% 2.20%


UK and Japanese government bonds are grossly over valued and on the precipice of moves resulting in sharply higher interest rates (yields). The bottom line is that the UK Gilt has reached its safe haven status peak that is being artificially supported by the Bank of England money printing (electronically) to buy government bonds which is resulting in very high inflation, and because the bond markets are manipulated by artificial buying then this will have to ultimately have to play itself out in the currency markets which implies a sharply lower sterling exchange rate even against an exploding euro, though note that ALL currencies are in FREE FALL against one another, it all depends on the relative rate of free fall as measured by the real rates of inflation which for the UK is approx 7%.



dumbfounded's picture

Cheers for the feedback (all above)! So at this stage it seems to be a matter of when "the markets" get round to dealing with the next one. Not allot of places left to hide hey... but that's not news to anyone here i guess.

Any chance that all the financial players in the City simply realize that they will kill the host if they go after the UK ?

littleguy's picture




LawsofPhysics's picture

Wow, there is actually someone left that still thinks it matters.  The NWO has been running things since the creation of the Federal reserve.  The creation of the U.N. only made it stronger.  Got physical assets of value, tradable skills, and like-minded neighbors?  You better.

jcaz's picture

Shit always goes exponential.......

GeneMarchbanks's picture

are you talking about diarrhea?

unknownknowns's picture

exponential diarrhea

Not a pretty sight though! You guys should really hook up with the EU, they do that in abundance; 'guess you could say it's verbal "exponential diarrhea" from the PIIGS farmers. :)


Edit: PIIGS being farmed by Germany...may catch on you know.


DoChenRollingBearing's picture

@ jcaz, good observation, + 1

hugovanderbubble's picture

And Munibonds Tyler...


Remember Munibonds are the big black swan

kito's picture

somebody please skip to the end and tell me what happens!!!!!

Vlad Tepid's picture

Global financial contagion and economic meltdown?

IAmNotMark's picture

War.  Civil unrest.  Totalitarism.  Utter Chaos, The destruction of the current world.  Something new emerges (which may be a burned cinder that used to be a planet, or could be the golden age of man).

But first, it's Miller time!

Magnix's picture

That interactive timeline on Reuters website will not load. Its stilling loading!


Caviar Emptor's picture

Don't ya get it? We're just wating for Bernank to pass us $50 Trillion under the table. Problem solved

Dick Darlington's picture
11-29 15:30: Fitch's Riley says if things get worse, France's ratings... FrAAAnce getting closer to downgrade, now by Fitch. So does this mean their bonds will fly? Belgium got real boost after downgrade.
GeneMarchbanks's picture

Latest update via ransquawk:

Germany and France issue a statement saying they respect the ECB's Independence

Merkel remains the honeybadger.

Meatier Shower's picture

"With the implementation of the Eurodollar in Europe these last few years, the
European Union is trying to find new ways to standardize practices in Europe.

The European Commission has just announced an agreement whereby English will be the
official language of the EU rather than German which was the other possibility.

As part of the negotiations, Her Majesty's Government conceded that English spelling had
some room for improvement and has accepted a five year phase-in plan that would be known
as "Euro-English".

In the first year, "s" will replace the soft "c". Sertainly, this will make the sivil
servants jump with joy. The hard "c" will be dropped in favour of the "k". This should
klear up konfusion and keyboards kan have 1 less letter.

There will be growing publik enthusiasm in the sekond year, when the troublesome "ph" will
be replaced with "f". This will make words like "fotograf" 20% shorter.

In the third year, publik akseptanse of the new spelling kan be ekspekted to reach the
stage where more komplikated changes are possible. Governments will enkorage the removal
of double letters, which have always ben a deterent to akurate speling. Also, al wil
agre that the horible mes of the silent "e"s in the language is disgraseful, and they
should go away.

By the fourth year, peopl wil be reseptiv to steps such as replasing "th" with "z" and
"w" with "v". During ze fifz year, ze unesesary "o" kan be dropd from vords kontaining
"ou" and similar changes vud of kors be aplid to ozer kombinations of leters.

After zis fifz yer, ve vil hav a reli sensibl riten styl. Zer vil be no mor trubl or
difikultis and evrivun vil find it ezi to understand ech ozer. Ze drem vil finali kum tru!"

non_anon's picture

shouldn't the tower of pisa be leaning left?

Nucking Futs's picture

you do know that it is a 3 dimensional object right?  stand in front of it.. leans left.  stand behind it.. leans right.

Caviar Emptor's picture

See, all that matters is how the bankers are doing. Not the economy at large. 

That's the role of the Fed, ECB and other global central banks. 

SO the bankers have already secured their Holiday Bonuses and won't act to tank the system. 

No further action needs to be taken until next year. 

geno-econ's picture

This comedy ain't over until Angela Merkel dresses up as Bugs Bunney and says " tha tha thats all folks!".  Untill then  bankers and other soveriegn debt holders are waiting for a bailout by Germany of Euro Disneyland where life has been good until now. Same in the US, but not until after the 2012 elections  

Sardonicus's picture

What we think doesn't matter because the world is overloaded with morons who will believe anything. 

TideFighter's picture

Honey Badger Bernank doesn't give a shit. He'll pass it by/around/under/over/thru your nose. As the ponytailed economist predicted, gobs of money will be printed and "invested" into stocks, bonds, and RE. Gold and silver markets are too small to compete with wheelbarrows of $100 dollar bills. The value of oil, other energy, and food can and will be digitized for trade. Don't pass me the bullshit excuse that gold is a traditional store of value. ALL of the other useable metals will eventually have more value than useless gold. These are not Roman times. Don't lecture me on history, not doomed to repeat. The US .gov does not have gold, does not want gold, will not confiscate gold, and will obliterate gold to eventual jewelry value. They will always sustain the creation of money.

quasimodo's picture

Fair enough, and by the way what cubicle are you posting from?

They are selling clues down the street, I would suggest you go buy a few

TideFighter's picture

I'm posting from my 10,000 sq. foot house on the beach. I made my money being smart, not from buying clues from useless trolls.

Is that hump on your back pure gold? It's gonna hurt when you fall from the bell tower. Even Quasi had to eat.

DavidPierre's picture



 Iranian students have sacked the UK embassy in Tehran. This comes 2 weeks after an Iranian missile complex was "mysteriously" destroyed which was surely under reported by the press and explains the strength in oil over the last 2-3 weeks. Russian President Medvedev spoke over the past weekend in very harsh terms and went so far as to say Europe's missile shield would be targeted with any attack on Iran or Syria.

This is the type of response during currency/debt/financial crisis. Tensions rise to a crescendo when people feel they are about to lose or have lost, capital through fraud.

"Fraud" because the world knows that the Dollar system is a "never pay" model which was initially set up to do exactly that, NEVER PAY.

Investors may get paid their Dollars but those Dollars will not, and already do not have, the purchasing power as when older contracts were initially penned. 

People are pissed because they have figured out that they were duped.

The Fed nor ECB can fix the unfixable situation the world now finds itself in. ...Now, enter the "cure". The "cure" being the IMF and World Bank coming to the rescue...of everything with a new currency!

 It fits! The insolvent black hole of debt and derivatives is now so big that even "lying" about asset carrying values on bank balance sheets is no longer working, we need a "re set" to make the system magically solvent again.

This is where real money Gold comes in. The IMF and World Bank (along with many other central banks) have Gold reserves, these reserves valued at today's prices are only tiny specs of value in relation to the insolvencies globally. Gold MUST be "re marked" up in value in order to recapitalize the system. THIS is the ONLY way that "the powers that be" can retain their banking powers.

This "re mark" up in price will be the greatest transfer of wealth in the history of history!

Remember... FDR marked up Gold from $20.67 per ounce to $35?

The very same crossroads, only this time on a scale that makes 1932 look like 1 drop of rain in the Sahara desert! Pick a number anywhere between 10 and 10,000 to 1 "revaluation" to get the job done. The IMF will issue SDR's which will be treated as the new international reserve currency. Gold will "back" this new currency but as is known, "there isn't enough Gold" current prices.

This revaluation will wipe out paper savings of all sorts. Can you imagine if your bank account had "2 less zeroes"? How about your pension account or pension payments? You think a $1 Million insurance policy will provide for your family? What if it were "revalued" to $10,000 current value over night?

Yes, it will be pretty cool if you are a borrower and current on your payments when "some zeroes" get dropped off of your loan balance but for every borrower there is also a lender.

The point in time where no more "fake fixes" will be accepted is upon us. History has shown that wars usually break out when cross border business deals breakdown or are reneged on.

The greatest fraud and renege in history is unraveling right before our very eyes.

 Gold has ALWAYS been the way to protect purchasing power no matter how many false prophets CNBC, Bloomberg etc. parade out for public brainwashing.

 Trust history and common sense, trust what you really know deep down!

Iwanttoknow's picture

$ stands.City of london says so.

THE DORK OF CORK's picture

But the water is so coldddddddddddd.

Caviar Emptor's picture

Look it's simple, really. Berlusconi and DSK to mount honey offensive in China. Recruiting from their little black books. All expenses. Just bring your sun glasses. See ya in Phuket. 

Jim in MN's picture

LOL ohhhhhahahahahhhahahahhhha

Germany and France issue a statement saying they respect the ECB's Independence (RAN Squawk)

I'm dying, I can't take they release this shit just so we can read it here and die laughing?  LOLOLOL

Georgesblog's picture

If any country looks good in this chain of events, it's smoke and mirrors. Which end of the Titanic lands on the bottom, first?

Henry Chinaski's picture

It's too early to start the 2011 reprise posts.  It's not even December for cryin' out loud.

Element's picture

It's ok, the IMF is going to save them ... hey, don't laugh, it worked for Greece.


Iceland bitchez

Kali's picture

The only people who have come up with the real time, real solution.  Not a "theoretical" one.

luckylogger's picture

Who has the most aircraftcarriers?

The usa ,, like it or not is the world power and can kik everybodies ass.

Just the way it is, we got the best country, we do our best to fuk it up but in the end..... nobody can beat us.

Sorry guys....... just the way it is.

xcehn's picture

The part where the ship eventually sinks (while the band is still playing) is the perfect image for what's happening now.  The idea that this is under control and gets managed is ridiculous.  In fact, the attempts at control/deferment may very well have the opposite effect and accelerate the disaster.  Only a miracle, not 'gradual deleveraging' will save the world from financial armageddon.

Also hopefully without spoiling too much, here is the not so surprising ending - the Titanic sinks in the end.