The 21 Countries Most Likely to Default

More

Friday's S&P outlook downgrade of Italian sovereign debt sent credit markets into a tailspin this week, and made a difficult situation in Europe look even worse.

Recent elections and failed austerity measures have also exacerbated the crisis, with many of Europe's fringe states lacking the growth they need to escape their debt traps.

Now the costs of insuring sovereign debt of eurozone states is rising again, as markets begin to be believe in the inevitability of some sort of restructuring event.

We've ranked the top 21 countries by Monday's intraday credit default swap (CDS) price, or the cost to insure each country's debt. It isn't a perfect ranking of what country is likely to default first, or when, but it does show a growing consensus from market participants that the crises in these states is getting worse.


Note: A 5-year CDS price of 1000 bps suggests it costs $1 million to insure $10 million of debt.

Sources: Bloomberg (Monday), CMA Datavision (Friday)

Jump to comments
Presented by

Gregory White is editor of Money Game for Business Insider. More

White has previously reported from Doha, Cairo, and London and has had work published by The Huffington Post and MSNBC.com.

He holds a Master's degree in journalism from Columbia University. White graduated from the London School of Economics with a BSc in international relations and history after transferring from Boston College.

Get Today's Top Stories in Your Inbox (preview)

CrossFit Versus Yoga: Choose a Side

How a workout becomes a social identity


Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

CrossFit Versus Yoga: Choose a Side

How a workout becomes a social identity

Video

Is Technology Making Us Better Storytellers?

The minds behind House of Cards and The Moth weigh in.

Video

A Short Film That Skewers Hollywood

A studio executive concocts an animated blockbuster. Who cares about the story?

Video

In Online Dating, Everyone's a Little Bit Racist

The co-founder of OKCupid shares findings from his analysis of millions of users' data.

Video

What Is a Sandwich?

We're overthinking sandwiches, so you don't have to.

Video

Let's Talk About Not Smoking

Why does smoking maintain its allure? James Hamblin seeks the wisdom of a cool person.

Writers

Up
Down

More in Business

Just In