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)
Business Insider Emails & Alerts
Site highlights each day to your inbox.