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Wow, Ireland is in a world of hurt. External debt is 10x GDP. http://en.wikipedia.org/wiki/List_of_countries_by_external_debt http://en.wikipedia.org/wiki/Lis
by russell 16y ago
Wow, Ireland is in a world of hurt. External debt is 10x GDP. http://en.wikipedia.org/wiki/List_of_countries_by_external_debt http://en.wikipedia.org/wiki/List_of_countries_by_external_d.... The US is at 94%, but Europe is way worse. Luxembourg is 38x. Could that be correct? Where is all this money roosting? For the US it's China, Japan, and OPEC, with China way out ahead.
- Someone 16y agoI think it is almost more meaningful to compare Luxembourg to lower Manhattan than to other countries. Its 'problem' is that it has a huge banking sector for its 500k inhabitants. That brings in lots of money (Luxembourg is the richest country in the EU), but also imports risks. I do not know where their banks invest their money, but chances are that a fair amount of it is in euro, and that they have been bringing down their investments in the weaker euro countries.