Everyone’s anxiously waiting on Greece’s referendum vote after the country failed to make a payment to the IMF on Tuesday.
For Greece, dealing with financial problems isn’t anything new. The country has spent 90 out of the last 196 years in financial crisis — aka almost 50% of the time since its independence.
But the Hellenic Republic isn’t the only one that’s spent a large percentage of the years since 1800 in economic turmoil: Mexico (~44%), Russia (~39%), and Poland (~37%) aren’t too far behind.
On the other end of the spectrum, Italy (~3%), the UK (~4%), and France (~4.5%) have spent the least amount of time in default or rescheduling among the group.
However, in terms of the number of defaults and rescheduling, Chile and Brazil lead the way.
Here’s a chart from Bank of America Merrill Lynch’s Michael Hartnett.
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