A report by CMA Vision evaluates the risk of sovereign default globally.
The top 10, with a probability ranking of default within 5 years are:
- Venezuela 57.7
- Ukraine 54.6
- Argentina 49.1
- Latvia 30.1
- Iceland 25.4
- Dubai 25.1
- Lithuania 19.3
- Greece 17.4
- Romania 17.2
- Lebanon 17
Both Greece and Romania are new entries into the top 10.
Of the world's safest sovereign debt, the United States ranks 8th. Norway is #1. In fact all of those silly socialist countries are ranked in the top safest.
The report notes:
Both the USA and UK have been among the worst performing sovereign CDS this quarter- the UK is some 77% wider, the USA out by nearly 66%.
Concerns are mounting about the increase of debt to GDP ratios in UK and USA, 97% and 75% respectively.