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Chart of the day: Indebtedness of all AAA sovereign credits

By Edward Harrison on 16 November 2011

The following numbers come from a recent article in Die Welt on the backlash in Europe against the ratings agencies. Going by the Maastricht criteria of 3% deficits and 60% debt to GDP, the only credits that make this hurdle are: Finland, Luxembourg, Norway, Singapore, Sweden, and Switzerland. During this liquidity (and solvency) crisis, these are the safest havens.

I am not sure why Australia is missing here, but it is the only AAA credit that I know to be missing from the list.

Country Rating Government Debt to GDP Surplus/Deficit (+/-) GDP growth rate Current Account
Austria AAA 73.60% -3.90% 3.00% 3.16%
Canada AAA 76.91% -1.89% 2.90% -1.42%
Denmark AAA 42.99% -4.10% 1.50% 4.66%
Finland AAA 49.73% -0.90% 3.80% 5.06%
France AAA 83.58% -5.70% 1.90% -2.12%
Germany AAA 82.97% -2.50% 3.20% 4.95%
Luxembourg AAA 18.22% -1.10% 3.30% 7.10%
Netherlands AAA 64.78% -3.70% 1.75% 7.57%
Norway AAA 43.40% 9.87% 3.00% 14.57%
Singapore AAA 41.19% 10.16% 6.04% 20.40%
Sweden AAA 36.80% 1.04% 4.00% 5.90%
Switzerland AAA 36.90% 0.30% 2.66% 13.19%
United Kingdom AAA 83.42% -7.84% 1.36% -0.75%
United States AAA 93.46% -9.53% 2.59% -3.36%

Source: Die Welt, Bloomberg, October 2011

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