Sovereign defaults could start where nobody's watching [UPDATED]

According to this slideshow from CNBC, a lot highly leveraged/indebted countries are not currently under the radar of most. Here's a list of the 20 most debtor nation according to CNBC (data might need to be checked, and off-balance debt and liabilities added - pensions/social securities/etc. which don't appear as debt on many sovereign countries).

Country	External Debt to GDP	External Debt per capita	Gross Q2 2009 external debt
United States	94.3%	$44,000	$13.5 trillion
Hungary	105.7%	$21,000	$210 billion
Australia	111.3%	$42,000	$900 billion
Italy	126.7%	$40,000	$2.3 trillion
Greece	161.1%	$52,000	$553 billion
Spain	171.1%	$60,000	$2.4 trillion
Germany	178.5%	$63,000	$5.2 trillion
Finland	188.5%	$70,000	$365 billion
Sweden	194.3%	$74,000	$670 billion
Norway	199%	$117,000	$550 billion
Hong Kong	205.8%	$90,000	$631 billion
Portugal	214.4%	$47,000	$507 billion
France	236%	$78,000	$5 trillion
Austria	252.5%	$101,000	$832 billion
Denmark	298.3%	$110,000	$607 billion
Belgium	320%	$119,000	$1.25 trillion
Netherlands	365%	$147,000	$2.5 trillion
United Kingdom	408.3%	$148,000	$9 trillion
Switzerland	422.7%	$176,000	$1.34 trillion
Ireland	1,267%	$568,000	$2.4 trillion

Notes:

• I have rounded some figures, mostly the debt per capita
• Q2 2009 debt is way outdated, since the second half of 2009 was a real collapse in tax income and that 2010 is likely as bad...

Conclusions:

• Anybody who lends to any of these countries exposing himself to losing a big part of his investment, for a yield completely ridiculous compared to the risk.
• The scandinavian model praised on all the newspapers and by most socialist-economists is actually a big failure and scandinavian failures will most likely default at the same time as many European countries...
• While I have kind of forecasting a default coming from Denmark, I wasn't aware that Belgium and Netherlands where in such a big hole.
• Who knew for Switzerland? How did they dig in such a deep hole for themselves? Are people investing in the CHF totally insane?
• Ireland is bust

[Update] My friend "blbl" points me to this Wikipedia entry containing a list of countries by gross (i.e. total) external debt and by external debt per capita. It also provides the definition of external debt:

The external debt of a country is defined as the "total public and private debt owed to nonresidents repayable in foreign currency, goods, or services"

This is really important, as the debt also includes the private one (both individuals and corporations). It's not clear if it has to be in foreign currency or not, though I doubt it, given that the US for example, have only borrowed in their own currency.

He also thinks that Luxembourg and Switzerland are in the top list because they tend to attract lots of "shell companies" and their debt. Which makes sense I believe.