The impact of David Cameron’s spending cuts is so impressive.
Update: To be fair, this particular chart does not give Cameron a lot of time to make a difference, but does anyone think it matters?
With respect to the other countries, my gut feelings are that the Spanish numbers are made up, and at least some of the British and Italian debts are backed by real assets that are worth something to a greater extent than are whatever is supposed to be backing the Greek, Irish, and Spanish debts. The Portuguese numbers are probably somewhere in between in terms of believability. Belgium is a riddle wrapped in a mystery inside an enigma inside something French.
HT Tim Harford