Python's GIL is intended to serialize access to interpreter internals from different threads. On multi-core systems, it means that multiple threads can't effectively make use of multiple cores. (If the GIL didn't lead to this problem, most people wouldn't care about the GIL - it's only being raised as an issue because of the increasing prevalence of multi-core systems.) If you want to understand it in detail, you can view [this video][1]this video or look at [this set of slides][2]this set of slides. It might be too much information, but then you did ask for details :-)
Note that Python's GIL is only really an issue for CPython, the reference implementation. Jython and IronPython don't have a GIL. As a Python developer, you don't generally come across the GIL unless you're writing a C extension. C extension writers need to release the GIL when their extensions do blocking I/O, so that other threads in the Python process get a chance to run. [1]: https://www.youtube.com/watch?v=ph374fJqFPE [2]: http://www.dabeaz.com/python/GIL.pdf