Friday, November 06, 2009

Largest Debtor Countries in the World

CNBC has a good slideshow that has the top twenty biggest debtor countries based percent of GDP. I thought the United States was bad with the debt being 94.1% of the GDP (that is $13.454 trillion or $43,793 per capita!) but it gets much worse. The list goes

  1. Ireland
  2. Switzerland
  3. United Kingdom
  4. Netherlands
  5. Belgium
  6. Denmark
  7. Austria
  8. France
  9. Portugal
  10. Hong Kong
  11. Norway
  12. Sweden
  13. Finland
  14. Germany
  15. Spain
  16. Greece
  17. Italy
  18. Australia
  19. Hungary
  20. United States

Ireland's debt is over 1,000% of its GDP and is $567,805 per capita. These debts kill economies slowly (look at the once great Celtic Tiger). Countries need to learn thrift even in times of plenty or risk a real collapse.

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