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The World's Biggest Debtor Nations

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  • The World's Biggest Debtor Nations

    CNBC recently released this list of the top 20 debtor nations, and also a lovely slideshow wich can be viewed Here. It seems like most of the countries in the European Union are on the list.

    "External debt is a measure of a nation's foreign liabilities, capital plus interest that the government and institutions within a nation's borders must eventually pay. This number not only includes government debt, but also debt owed by corporations and individuals to entities outside their home country.

    So, how does the US debt position compare to that of other countries? A useful measure of a country's debt position is by comparing gross external debt to GDP. By comparing a country's debt to what it produces, this ratio can be used to determine the likelihood that a country will be able to repay its debt. This report takes a look at the world's 75 largest economies to see which ones have the highest external debt to GDP ratio, calculated using the most recent numbers from the World Bank. We've listed the top twenty here.

    Who are the world's biggest debtor nations? The rankings may surprise you!"


    20. United States
    External debt (as % of GDP): 95.9%

    19. Australia
    External debt (as % of GDP): 108.8%

    18. Hungary
    External debt (as % of GDP): 124.2%

    17. Italy
    External debt (as % of GDP): 154.6%

    16. Greece
    External debt (as % of GDP): 175.3%

    15. Spain
    External debt (as % of GDP): 184.7%

    14. Germany
    External debt (as % of GDP): 189.4%

    13. Finland
    External debt (as % of GDP): 205.7%

    12. Norway
    External debt (as % of GDP): 208.9%

    11. Hong Kong
    External debt (as % of GDP): 218.8%

    10. Portugal
    External debt (as % of GDP): 231.5%

    9. France
    External debt (as % of GDP): 247.2%

    8. Austria
    External debt (as % of GDP): 268.9%

    7. Sweden
    External debt (as % of GDP): 275%

    6. Denmark
    External debt (as % of GDP): 315.2%

    5. Belgium
    External debt (as % of GDP): 345.6%

    4. Switzerland
    External debt (as % of GDP): 390%

    3. Netherlands
    External debt (as % of GDP): 395.6%

    2. United Kingdom
    External debt (as % of GDP): 427.6%

    1. Ireland
    External debt (as % of GDP): 1,352%
    Source.

    Ireland's $2.39 trillion debt is a whopping 1,352% of their Gross Domestic Product, wich is only $177.3 billion. How can they possibly keep that going? That's like one of those high interest, and penalty, credit cards that the consumer can NEVER actually pay back. It's going to be a rough road ahead for all the countries on this list.
    |TG-X| mp40x



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  • #2
    Re: The World's Biggest Debtor Nations

    Is there an equivalent chart that shows interest as a percentage of GDP?
    Dude, seriously, WHAT handkerchief?

    snooggums' density principal: "The more dense a population, the more dense a population."

    Iliana: "You're a great friend but if we're ever chased by zombies I'm tripping you."

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    • #3
      Re: The World's Biggest Debtor Nations

      Glad Canada isn't on that list :D

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      • #4
        Re: The World's Biggest Debtor Nations

        So who is getting exceedingly rich off all the interest payments from these countries?
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        • #5
          Re: The World's Biggest Debtor Nations

          Originally posted by aeroripper View Post
          So who is getting exceedingly rich off all the interest payments from these countries?
          This is a 100 Trillions dollars question. And those who ask this question are usually freak who see conspiracy everywhere. It is not normal to ask where Billions of public dollars are going. And if you do, your a freak ! BUT keep on paying it and don't wonder, that is the most important thing.

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          • #6
            Re: The World's Biggest Debtor Nations

            China.

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            • #7
              Re: The World's Biggest Debtor Nations

              Originally posted by ForGlory&Pain View Post
              China.
              I'm sure it does, but I imagine it goes to their central bank which buys their government bonds (similar to other central banks). This seems pretty obvious to me, but it appears that these central banks exert an enormous amount of influence over countries that are indebted to them. They do create money for government's to spend, but even at face value this appears to be a bad deal in the long run for countries that utilize this type of debt monetization.

              This is a 100 Trillions dollars question. And those who ask this question are usually freak who see conspiracy everywhere. It is not normal to ask where Billions of public dollars are going. And if you do, your a freak ! BUT keep on paying it and don't wonder, that is the most important thing.
              People don't like commonly held perceptions to be challenged, even if they're demonstrably untrue. As our economy collapses and our debt problem is now so huge it cannot be ignored, many are beginning to question how our economic and monetary system actually works. At least, I'm hoping more people will, as most of the people I talk to about these issues have very little knowledge of money, which is an awful state of affairs for what's left of our constitutional republic.
              Last edited by aeroripper; 03-01-2010, 09:16 PM.
              Like the server? Become a regular! TGNS Required Reading
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              • #8
                Re: The World's Biggest Debtor Nations

                A lot of that debt is owed to each other. That chart isn't NET debt, its TOTAL debt. So if Ireland (for example) borrowed $500 Billion from China, and used it to invest in $500 Billion worth of US treasury stocks, you would see Ireland and US both look like they had more debt. But Ireland isn't actually any more in debt than they were yesterday, they're just more leveraged.

                Leverage carries its own risks, of course, but its not nearly as simple as just total debt owed.

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                • #9
                  Re: The World's Biggest Debtor Nations

                  Bankrupt Britain.


                  POE2 Developer

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                  • #10
                    Re: The World's Biggest Debtor Nations

                    Some of the biggest creditors:

                    http://news.malaysia.msn.com/busines...mentid=4151671
                    Dude, seriously, WHAT handkerchief?

                    snooggums' density principal: "The more dense a population, the more dense a population."

                    Iliana: "You're a great friend but if we're ever chased by zombies I'm tripping you."

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                    • #11
                      Re: The World's Biggest Debtor Nations

                      Looks like all of that "free" health care and education that Europe always brags about wasn't free after all! Looks like it's time to pay the piper! Sadly, it looks like we're headed down the same self-destructive path.
                      "Common sense is not so common." -Voltaire

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                      • #12
                        Re: The World's Biggest Debtor Nations

                        Nothing's ever free.

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                        • #13
                          Re: The World's Biggest Debtor Nations

                          From the article:

                          The cash-rich Chinese government raised its US Treasury bond holdings to 900.2 billion dollars in April, its highest level since November 2009, while posting the second consecutive monthly rise, according to a report on international capital flows.
                          So, almost a Trillion Dollars we owe the Chinese. That's roughly what the US War on Terror and global military empire costs. Think of the infrastructure and public works projects that could be accomplished in the US if that money wasn't being borrowed and wasted. The American people should be outraged, sadly they are not.

                          Basically, the US government has squandered the riches of this country pursuing empire. The citizen is left holding the debt, and they have nothing to show for it except a massive military and neverending conflict. They can't even find a job because of our governments globalist economic policies and US corporations moving jobs to foreign countries.

                          I guess when the Dollar crashes and the US government finally becomes insolvent, they just might do something about it.
                          |TG-X| mp40x



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