Greece was more likely to default on its debt than any other country in the world during the first quarter of 2011, said data provider CMA, according to Dow Jones Newswires.
There was a 58% chance of Greece needing to restructure its debt within five years during the first three months of the year, while there was no change to the top six riskiest countries, said CMA. Greece was followed by Venezuela, Ireland, Portugal, Argentina and Ukraine.
Spain and Hungary moved out of the top 10 countries most likely to default, replaced by Egypt and Lebanon, which were hit by the political unrest.
On the contrary, Norway was the country least likely to default on its debt within five years, followed by Sweden, Finland, Switzerland and the Netherlands.
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