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

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