Recession Is Real: The Top Ten “First World” Countries Whose Governments Can’t Pay Their Bills

 

Most of us never imagined we would live in a time where so many countries would be on the verge of going broke or not being able to pay their bills.

But that is our reality in 2011. As a matter of fact, we weren’t necessarily doing that much better in 09 when this list was compiled. It looks at the world’s 75 largest economies to see which ones have the highest external debt to GDP ratio, calculated using the most recent numbers from the World Bank.

So how did the U.S. do? We came in at #20. Shoot, even Greece, which has been on the brink of defaulting on their debt so many times in the past few months didn’t crack the top ten. So who did?

Flip through and see the ten “major financial powers” with the worst debt issues today.

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