So much for the Irish miracle. Ireland - the growth tiger of the 1980s and 90s is now at risk of becoming Europe's pauper. Coming in with an external debt of around $2.39 trillion (2009 Q3) and total 2009 GDP (est): $177.3 billion Ireland's external debt (as % of GDP): = 1,352% Gross external debt. It is now the world's biggest debtor nation in terms of external debt to GDP.
New Zealand (even with its large household debt levels does not feature in the top 20 biggest debtor nations). The efforts of Messrs Birch and Cullen in salting away some surpluses and repaying government debt have all help reduce New Zealand's level of gross external debt.
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