EVERYONE'S FREAKING OUT ABOUT SOVEREIGN DEBT

romania

We’ve been talking about sovereign debt for a long time now, but it feels like we’re tipping over today, and that the very real matter of countries defaulting on their debt is starting to get serious attention.

So as a quick review, let’s run through the countries with the 15 most costly credit default swaps.

(For a quick refresher: If a country’s CDS spread is 500 bps, then you’re paying 5% premiums to insure your debt. Or to put it another way, if you have $1 million in debt, you can insure it for $50,000)

See the countries with the most risk ->

Bulgaria's CDS Spread: 241.6 bps

Photo: AP

Data: Bloomberg

Hungary's CDS Spread: 247 bps

Photo: AP

Data: Bloomberg

Vietnam's CDS Spread: 249.6 bps

Photo: AP

Data: Bloomberg

Lebanon's CDS Spread: 250.2 bps

Photo: AP

Data: Bloomberg

Romania's CDS Spread: 250.9 bps

Photo: Wikimedia Commons

Data: Bloomberg

Egypt's CDS Spread: 264.3 bps

Photo: AP

Data: Bloomberg

Lithuania's CDS Spread: 274.9 bps

Photo: AP

Data: Bloomberg

Latvia's CDS Spread: 483.3 bps

Photo: AP

Data: Bloomberg

Dubai's CDS Spread: 497.2 bps

Photo: Wikimedia Commons

Data: Bloomberg

Iceland's CDS Spread: 674.6 bps

Photo: AP

Data: Bloomberg

Pakistan's CDS Spread: 877.4 bps

Photo: AP

Data: Bloomberg

Ukraine's CDS Spread: 896.8 bps

Photo: AP

Data: Bloomberg

Argentina's CDS Spread: 1002.5 bps

Photo: AP

Data: Bloomberg

Venezuela's CDS Spread: 1008.3 bps

Photo: AP

Data: Bloomberg

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