Which European Country is Next to Implode?
Have you ever seen a car crash in slow motion? (See video). Well, we’re watching one across the pond (and the US is also going to be on this list sooner than later).
As of this morning, here are the 5-year Credit Default Swap spreads (i.e., measure of default risk) and Debt:GDP for the PIIGS, Germany, and UK:
Greece: 784.3 | 115.1%
Portugal: 364.02 | 76.8%
Ireland: 259.82 | 64%
Spain: 231.42 | 53.2%
Italy: 191.81 | 115.8%
UK: 85.94 | 68.1%
Germany: 42.35 | 73.2%
If you want to see our market scenario based on the sovereign debt crisis, click here for your free copy of the May issue of our Wall St. Cheat Sheet Premium newsletter.