The euro graph of doom – Telegraph Blogs
What it shows is the now extreme flight of foreign capital from Spain
and Italy. As you can see, the graph only goes up to the end of January,
but we know that the phenomenon has got, much, much worse since then.
This Credit Suisse graphic (below) tells much the same story. Anyone who
can has been getting their money out. Likewise, any foreign company
doing business in Spain and Italy removes the money as soon as they get
paid, driven both by concern over the safety of the domestic banking
system and the possibility that these countries might end up leaving the
euro. This has been pretty much one way traffic.
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