Iceland places fifth on a list of the top ten countries considered most likely to go bankrupt. This is revealed in a new list from CMA, London marketing firm which oversees the world’s collateralized debt obligations, visir.is reports.
The Icelandic Krona. Copyright: Icelandic Photo Agency.
According to the list, the odds of Iceland going bankrupt are almost 37%. Argentina tops the list, with 72% odds of defaulting.
Aside from Argentina, Ukraine, Venezuela and Latvia rank above Iceland. Below Iceland are Dubai, Kazakhstan, Lithuania, Bulgaria and Romania.
Bloomberg today pointed out that all ten nations are among the 63 nations which made collateralized debt obligations on their loans.
The good news, if good indeed, is that the collateralized debt obligations premium of the state treasury debt has now decreased, with the current average of 661 points, according to CMA. This winter, that premium significantly exceeded 800 points.