This is what is left over, after some theoretical work of "NETTING" and swapping out EuroZone Countries debts against each other, and it is dramatic when compared against the old picture. What it does not take into account is the individual debt-holder and debtor entity, but they would be at that point, internal,and not contribute to the confusion that now reigns.
You and I know that something like this must come about or the 17 countries of the Euro Zone will fall into a heap, a writhing mass of self absorbed countries in which things become worse by an order magnitude as each period of time goes by.
Why you ask has this not happened yet/. WELL for one ask yourself cui bono in reverse, who not profits but loses ? All the people who sell and administer debt entities. If you said BANKERS your right. Maybe Billy Shakespeare was wrong when he said "Kill all the lawyers." Maybe he really would have meant BANKERS had he seen the upshot of all this.
So if you ask a politician this, anywhere in the world, and they tell you "IT WON'T WORK", I'd be tempted to ask them what it would take to make it work, up to and including their exit from power, and their covert supporters as well.
Seems to me, if we don't make something like this work, we are all gonna be screwed like the frog in the pot where they raise the heat of the water gradually
one (1) degree at a time ( C or F, I dont care), until we are all boiled alive.
I think its time to WEAR BLACK MONDAYS, and demand an end to this destructive little crap game that allows BANKERS to screw the rest of humanity.