Illinois Higher Debt Default Risk than Iceland

Economics / Global Debt Crisis
Jul 15, 2010 - 06:25 AM

By: Dian_L_Chu

Illinois made headlines a few weeks ago when it overtook California as the worst credit risk among American states. Now, the fifth most populous state in the U.S. has officially overtaken Iceland in the default risk category as well. (See screenshot below from CMA site today) http://www.cmavision.com/market-data



Iceland, as we know, suffered from one of the largest baking collapse in 2008, essentially went bankrupt, and has been stuck in the "2008–2010 Icelandic financial crisisâ€