Irish Liberty Forum

All About Ireland

with 2 comments

CNBC has a spectacular powerpoint of the world’s top 15 debtor nations. External debt is measured as a proportion of GDP. Guess who’s number one?


With an external debt 811% of GDP, Ireland is head and shoulders above second place the UK (336%) and third place Belgium (327%).

I want to feel irrationally exuberant again.


Written by 20000miles

April 21, 2009 at 5:34 am

Posted in economics, Ireland

2 Responses

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  1. From the CNBC website

    “External debt is a measure of a government’s foreign liabilities, capital plus interest that a government must eventually pay”

    But they then quote figures that combine Ireland’s private and public debt (including borrowings from IFSC wild-west financiers, many of whom themselves are foreign).


    April 21, 2009 at 12:35 pm

  2. That’s an interesting point, actually. From the CIA world factbook:

    “Public debt records the cumulative total of all government borrowings less repayments that are denominated in a country’s home currency. Public debt should not be confused with external debt, which reflects the foreign currency liabilities of both the private and public sector and must be financed out of foreign exchange earnings.”


    April 21, 2009 at 6:30 pm

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