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

- By Bossip Staff Categories: Bolitics, Did You Know, For Your Information

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.

Top Ten Debtor Countries

10. Norway – 251%
External debt (as % of GDP): 251%

Gross external debt: $640.7 billion
2010 GDP (est): $255.3 billion

External debt per capita: $137,476

Top Ten Debtor Countries

9. Austria – 261.1%
External debt (as % of GDP): 261.1%

Gross external debt: $867.14 billion
2010 GDP (est): $332 billion

External debt per capita: $105,616

Top Ten Debtor Countries

8. Finland – 271.5%
External debt (as % of GDP): 271.5%

Gross external debt: $505.06 billion
2010 GDP (est): $186 billion

External debt per capita: $96,197

Top Ten Debtor Countries

7. Sweden – 282.2%
External debt (as % of GDP): 282.2%

Gross external debt: $1.001 trillion
2010 GDP (est): $354.7 billion

External debt per capita: $110,479

Top Ten Debtor Countries

6. Denmark – 310.4%
External debt (as % of GDP): 310.4%

Gross external debt: $626.1 billion
2010 GDP (est): $201.7 billion

External debt per capita: $113,826

Top Ten Debtor Countries

5. Belgium – 335.9%
External debt (as % of GDP): 335.9%

Gross external debt: $1.324 trillion
2010 GDP (est): $394.3 billion

External debt per capita: $127,197

Top Ten Debtor Countries

4. Netherlands – 376.3%
External debt (as % of GDP): 376.3%

Gross external debt: $2.55 trillion
2010 GDP (est): $676.9 billion

External debt per capita: $152,380

Top Ten Debtor Countries

3. Switzerland – 401.9%
External debt (as % of GDP): 401.9%

Gross external debt: $1.304 trillion
2010 GDP (est): $324.5 billion

External debt per capita: $171,528

Top Ten Debtor Countries

2. United Kingdom – 413.3%
External debt (as % of GDP): 413.3%

Gross external debt: $8.981 trillion
2010 GDP (est): $2.173 trillion

External debt per capita: $146,953

Top Ten Debtor Countries

1. Ireland – 1,382%
External debt (as % of GDP): 1,382%

Gross external debt: $2.38 trillion
2010 GDP (est): $172.3 billion

External debt per capita: $566,756

We Recommend

Promoted Content

Comments

blog comments powered by Disqus