![#1 Greece](http://static.businessinsider.com/image/4d652d78ccd1d52c31070000-400-300/1-greece.jpg)
Image: ap
Cumulative Probability of Default: 57.7%
Current 5-year Mid CDS (bps): 1037.2
#2 Venezuela
![#2 Venezuela](http://static.businessinsider.com/image/4c17d0037f8b9ad703e20100-400-300/2-venezuela.jpg)
Cumulative Probability of Default: 51.8%
Current 5-year Mid CDS (bps): 1008.9
#3 Ireland
![#3 Ireland](http://static.businessinsider.com/image/4cd80c5dcadcbbd309070000-400-300/3-ireland.jpg)
Image: Wikimedia Commons
Cumulative Probability of Default: 43.0%
Current 5-year Mid CDS (bps): 656.9
#4 Portugal
![#4 Portugal](http://static.businessinsider.com/image/4d808e5a49e2aee303100000-400-300/4-portugal.jpg)
Image: AP
Cumulative Probability of Default: 40.1%
Current 5-year Mid CDS (bps): 578.6
![#5 Argentina](http://static.businessinsider.com/image/4d839486cadcbb01604f0000-400-300/5-argentina.jpg)
Image: AP
Cumulative Probability of Default: 34.7%
Current 5-year Mid CDS (bps): 584
#6 Ukraine
![#6 Ukraine](http://static.businessinsider.com/image/4b7410250000000000722dbf-400-300/6-ukraine.jpg)
Image: AP
Cumulative Probability of Default: 27.7%
Current 5-year Mid CDS (bps): 445
#7 Dubai
![#7 Dubai](http://static.businessinsider.com/image/4b9fd03f7f8b9a4c43690600-400-300/7-dubai.jpg)
Dubai’s exclusive Palm Jumeirah development
Image: AP
Cumulative Probability of Default: 24.7%
Current 5-year Mid CDS (bps): 402.7
#8 Lebanon
![#8 Lebanon](http://static.businessinsider.com/image/4d6fbb5349e2ae0e08140000-400-300/8-lebanon.jpg)
Image: AP
Cumulative Probability of Default: 21.9%
Current 5-year Mid CDS (bps): 345
#9 Iraq
![#9 Iraq](http://static.businessinsider.com/image/4d67af11cadcbbee2e0d0000-400-300/9-iraq.jpg)
Image: ap
Cumulative Probability of Default: 21.1%
Current 5-year Mid CDS (bps): 330.6
#10 Egypt
![#10 Egypt](http://static.businessinsider.com/image/4d55734649e2aee8701c0000-400-300/10-egypt.jpg)
Image: ap
Cumulative Probability of Default: 21.1%
Current 5-year Mid CDS (bps): 331.0
#11 Bahrain
![#11 Bahrain](http://static.businessinsider.com/image/4d7f4ba349e2aefd44030000-400-300/11-bahrain.jpg)
Cumulative Probability of Default: 20.3%
Current 5-year Mid CDS (bps): 315.3
#12 Vietnam
![#12 Vietnam](http://static.businessinsider.com/image/4b6af90e00000000003acc43-400-300/12-vietnam.jpg)
Cumulative Probability of Default: 20.3%
Current 5-year Mid CDS (bps): 316.1
#13 Spain
![#13 Spain](http://static.businessinsider.com/image/4d78fcbbccd1d54c5b070000-400-300/13-spain.jpg)
Image: AP
Cumulative Probability of Default: 18.9%
Current 5-year Mid CDS (bps): 233.1
#14 Hungary
![#14 Hungary](http://static.businessinsider.com/image/4c0e64ef7f8b9a030c230000-400-300/14-hungary.jpg)
Cumulative Probability of Default: 16.7%
Current 5-year Mid CDS (bps): 254.0
#15 Croatia
![#15 Croatia](http://static.businessinsider.com/image/4c336dbd7f8b9af44ae70100-400-300/15-croatia.jpg)
Cumulative Probability of Default: 15.5%
Current 5-year Mid CDS (bps): 236.4
#16 Romania
![#16 Romania](http://static.businessinsider.com/image/4ca09af77f8b9a4b0a3f0600-400-300/16-romania.jpg)
Image: AP
Cumulative Probability of Default: 15.3%
Current 5-year Mid CDS (bps): 231.1
#17 Latvia
![#17 Latvia](http://static.businessinsider.com/image/4ad4ccef00000000006b9ba0-400-300/17-latvia.jpg)
Cumulative Probability of Default: 15.0%
Current 5-year Mid CDS (bps): 227.8
#18 Lithuania
![#18 Lithuania](http://static.businessinsider.com/image/4b740fb50000000000da1642-400-300/18-lithuania.jpg)
Image: AP
Cumulative Probability of Default: 14.5%
Current 5-year Mid CDS (bps): 219
#19 India
![#19 India](http://static.businessinsider.com/image/4d5edc2ecadcbb9d100a0000-400-300/19-india.jpg)
Image: AP Images
Cumulative Probability of Default: 13.7%
Current 5-year Mid CDS (bps): 161.8
#20 Bulgaria
![#20 Bulgaria](http://static.businessinsider.com/image/4b6af6670000000000d14330-400-300/20-bulgaria.jpg)
Cumulative Probability of Default: 13.5%
Current 5-year Mid CDS (bps): 203.1
#21 Italy
![#21 Italy](http://static.businessinsider.com/image/4d07a18fcadcbb8769040000-400-300/21-italy.jpg)
Image: AP
Cumulative Probability of Default: 12.5%
Current 5-year Mid CDS (bps): 149.5