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All of sudden the risk of Sovereign Default is broadsheet news. But which countries are perceived as risky? What impact has Dubai’s recent woes had upon the wider Middle Eastern market?

A few graphs help tell some of the story.

Note that Ukraine is bottom of the list. Gas competition woes continue with Gazprom (and thus the Russian State) and their railways don’t look in too great a shape.
(http://www.guardian.co.uk/business/feedarticle/8819028)

sovereign spreads end November 09

sovereign spreads end November 09

Middle Eastern Sovereign spreads Nov 2009

Middle Eastern Sovereign spreads Nov 2009

European Sovereign Spreads

European Sovereign Spreads

Hat Tip – Freetrader

For a Panoramic View of Eight Centuries of Crises check out Reinhart (Univ of Maryland) and Rogoff’s (Harvard) recent description: http://www.economics.harvard.edu/faculty/rogoff/files/This_Time_is_Different.pdf.

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