The World's Biggest Debtor Nations

Discussion in 'International Politics' started by Daredevil, May 30, 2009.

  1. Daredevil

    Daredevil On Vacation! Administrator

    Apr 5, 2009
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    The World's Biggest Debtor Nations

    15. United States - 95.09% External debt (as % of GDP): 95.09%

    14. Norway - 114% External debt (as % of GDP): 114%

    13. Finland - 116% External debt (as % of GDP): 116%

    12. Sweden - 129% External debt (as % of GDP): 129%

    T-10. Spain - 137.5% External debt (as % of GDP): 137.5%

    T-10. Germany - 137.5% External debt (as % of GDP): 137.5%

    9. Denmark - 159% External debt (as % of GDP): 159%

    8. France - 168% External debt (as % of GDP): 168%

    7. Austria - 191% External debt (as % of GDP): 191%

    6. Switzerland - 264% External debt (as % of GDP): 264%

    5. Netherlands - 268% External debt (as % of GDP): 268%

    4. Hong Kong - 295% External debt (as % of GDP): 295%

    3. Belgium - 327% External Debt (as % of GDP): 327%

    2. United Kingdom - 336% External debt (as % of GDP): 336%

    1. Ireland - 811% External debt (as % of GDP): 811%

    This includes both private and public debt.
    Iceland is missing but it is bankrupted anyways.


    All these western countries are fueling their exorbitant life styles on borrowed money.

    The World's Biggest Debtor Nations - Slideshows -
  3. Su-47

    Su-47 Regular Member

    Apr 20, 2009
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    A lot of this debt is in the form of borrowing from the public.

    I worked for a small asset management firm in Botswana last year. This is a very small firm, with a total portfolio worth of about $5bn or so (which is peanuts compared to larger firms). A considerable percentage of the portfolios were made up of US and UK govt bonds.

    when you consider the fact that the governments of these countries owe hundreds of millions of dollars to even the clients of a small asset management firm in an African country, you can just imagine how much they owe to the rest of the world.

    And now with the global recession, these countries are forced to borrow even more in order to bail out the major multinationals (who themselves have a high level of gearing) in order to avoid a depression.
  4. Known_Unknown

    Known_Unknown Devil's Advocate Stars and Ambassadors

    Apr 21, 2009
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    While S&P and other rating agencies downgraded India's credit rating last year because of debt reaching near 9% of GDP, how come they haven't done the same for the western countries considering their massive debt? Their credit rating should be in the dustbin by now.

    Another thing. I understand how the US is able to sustain its economy inspite of high debt, because the primary world currency is the US$, and so the US basically controls the world economy. It can just refuse to pay back its debt one day by adjusting the value of the $, and no one will be able to do anything about it. But what about these other western countries? What would it take to cause an economic collapse in these countries? Would it require the rest of the world to stop buying Euros?

    LETHALFORCE Moderator Moderator

    Feb 16, 2009
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    Looks like Asia and Middle East are the only ones holding any cash while the West has gone into high debt,low manufacturing and exporting position, getting by on exporting commodities, this is the result of a weak dollar policy started in the clinton administration and imbalances in trade.
  6. p2prada

    p2prada Stars and Ambassadors Stars and Ambassadors

    May 25, 2009
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    Holy Hell
    The 95% for US far eclipses the other 14 countries.

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