10 Countries Facing Huge External Debt

Spain

Spain's capitalist mixed economy is the twelfth largest worldwide and the fifth largest in the European Union, as well as the Eurozone's fourth largest. The centre-right government of former Prime Minister Jose María Aznar worked successfully to gain admission to the group of countries launching the euro in 1999. Unemployment stood at 7.6 percent in October 2006, a rate that compared favorably to many other European countries, and especially with the early 1990s when it stood at over 20 percent.  Perennial weak points of Spain's economy include high inflation, a large underground economy, and an education system which OECD reports place among the poorest for developed countries, together with the United States and UK.

External debt: $2.16 trillion

Per capita debt: $18,260

Percent of GDP: 84