Readers like you keep news free for everyone.

More than 5,000 readers have already pitched in to keep free access to The Journal.

For the price of one cup of coffee each week you can help keep paywalls away.

Support us today
Not now
Advertisement

The 20 countries with the highest probability of default

Ireland has made the list – unsurprisingly – but where does it rank?

Image: Kostas Tsironis/AP/Press Association Images

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.

The 20 countries with the highest probability of default
1 / 20
  • #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

Article by Eric Platt for Business Insider

Making a difference

A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article.

Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

For the price of one cup of coffee each week you can make sure we can keep reliable, meaningful news open to everyone regardless of their ability to pay.

Published with permission from:

Business Insider
Business Insider is a business site with strong financial, media and tech focus.

Read next:

COMMENTS (43)