The 19 Countries Most Likely To Default: Ireland Surges Higher

Ireland's bank bailout and the failure of its austerity budget has been the big sovereign debt story since September.

This country's place on CMA Datavision's cumulative probability of default rankings has spiked as from 14th place in July, to 5th place by the end of Q3.

But Ireland isn't the only country in sovereign debt trouble, and it's not the other PIIGS that dominate this list either.

CMA's list is ranked by CPD, or cumulative probability of default. This rating is separate from a company's CDS, but is closely related, and based on the volatility and price of that product.

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