US markets fell 200 points on news that Greece could be on the precipice of defaulting on its debt. Wait, haven’t they been talking about that all summer? Yes, but this comes after the Germans, key players in resolving the crisis, are now publicly saying that Greece may default in a messy way.
euro debt crisis
In order to explain the Euro debt crisis, Michael Cembalest, the Chief Investment Officer of JP Morgan’s private bank, sent around a research note that used Legos to depict the different players. The Legos were fashioned by his 9-year old son. This really happened. Here’s the legend to explain which parties each figure represents, or you can play a fun game and guess on your own first.