Chart Porn From the BBC

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The BBC, in an apparent effort to compete with Britain’s well-known fondness for tabloid sensationalism, offers up this today:

Top economists reveal their graphs of 2011

Be still, my beating heart! Unsurprisingly, it turns out that most of the top faves are related to the euro crisis, and to be honest, even by my standards they aren’t all that super interesting. Still, it’s worth a quick stroll. To whet your appetite, here’s a chart from Carl Emmerson, deputy director of the the Institute for Fiscal Studies. His explanation:

This shows the Bank of England’s estimate of what the market thinks is the likelihood of sovereign defaults in selected countries in the next five years. Prior to the crisis the market did not see any sizeable difference between these countries despite very different levels of public and private sector debt. The estimated chance of a default increased sharply for many in the aftermath of Lehman’s demise in late 2008 but these increases have been dwarfed by those since early 2010.

If the Bank of England is to be believed, Greece, Portugal, and Ireland all have about a 50% or greater chance of defaulting by 2016.

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FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2020 demands.

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