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Article by Eric Platt for Business Insider
Kostas Tsironis/AP/Press Association Images
Default
The 20 countries with the highest probability of default
Ireland has made the list – unsurprisingly – but where does it rank?
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AS THE ECONOMIC crisis in Europe continues to flare up, investors holding sovereign debt have had to pay substantially higher rates to insure themselves from default via Credit Default Swaps.
Business Insider compiled data on some 59 countries where investors can buy protection.
The results: issuers of credit default swaps don’t see the US, Germany or Norway defaulting anytime soon.
What follows is a look at the cost to insure $10,000 of ten-year sovereign debt per year.
#20: Iceland, Cost To Insure $10,000 Sovereign Debt: 324.39 bps
#19: Lithuania, Cost To Insure $10,000 Sovereign Debt: 326.26 bps
#18: Bulgaria, Cost To Insure $10,000 Sovereign Debt: 393.15 bps
#17: Vietnam, Cost To Insure $10,000 Sovereign Debt: 393.18 bps
#16: Bahrain, Cost To Insure $10,000 Sovereign Debt: 396.22 bps
#15: Dubai, Cost To Insure $10,000 Sovereign Debt: 430.87 bps
#14: Romania, Cost To Insure $10,000 Sovereign Debt: 467.70 bps
#13: Lebanon, Cost To Insure $10,000 Sovereign Debt: 518.30 bps
#12: Italy, Cost To Insure $10,000 Sovereign Debt: 522.89 bps
#11: Spain, Cost To Insure $10,000 Sovereign Debt: 538.00 bps
#10: Croatia, Cost To Insure $10,000 Sovereign Debt: 563.95 bps
#9: Hungary, Cost To Insure $10,000 Sovereign Debt: 608.61 bps
#8: Ireland, Cost To Insure $10,000 Sovereign Debt: 656.23 bps
#7: Egypt, Cost To Insure $10,000 Sovereign Debt: 665.35 bps
#6: Venezuela, Cost To Insure $10,000 Sovereign Debt: 829.20 bps
#5: Portugal, Cost To Insure $10,000 Sovereign Debt: 835.72 bps
#4: Ukraine, Cost To Insure $10,000 Sovereign Debt: 884.81 bps
#3: Cyprus, Cost To Insure $10,000 Sovereign Debt: 906.16 bps
#2: Argentina, Cost To Insure $10,000 Sovereign Debt: 1,183.98 bps
#1: Greece, Cost To Insure $10,000 Sovereign Debt: 7,015.10 bps
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