I believe the graphic you link comes from here: http://www.eudebtwriteoff.com/ http://www.eudebtwriteoff.com/ That is a site put up by one of the authors of a

I believe the graphic you link comes from here: http://www.eudebtwriteoff.com/ http://www.eudebtwriteoff.com/ That is a site put up by one of the authors of a report exploring the idea that the PIIGS should write off their mutual net balance debt: if I owe you $10, and you owe me $2, then we strike the $2, and I owe you $8 while you owe me $0, reducing loss by friction. That report (pdf) is linked from the site. I found that site by searching for the filename of the image (EURBEF.png), and looking for a post or article that uses it and cites its source. This is one such post: http://www.zerohedge.com/news/european-sovereign-debt-cant-we-all-just-net-along http://www.zerohedge.com/news/european-sovereign-debt-cant-w...