According to the latest CNBC slideshow on the “World’s biggest debtor nations“, Ireland tops the list as the most fiscally reckless nation. Ireland’s external debt as a percentage of their GDP is a staggering 811%. Their 2008 GDP was $285 billion and their total external debt as of Q4 2008 was $2.311 trillion.
Other nations in the top 16 list:
•United Kingdom – 336%
•Belgium – 327%
•Hong Kong – 295%
•Netherlands – 268%
•Switzerland – 264%
•Austria – 191%
•France – 168%
•Denmark – 159%
•Germany 137.5%
•Spain – 137.5%
•Sweden – 129%
•Finland – 116%
•Norway – 114%
•United States – 95.09%