8) Netherlands ($530 billion)

Netherlands’ debt is around $530 billion. The housing sector is affected very much. However the nation is slowly recovering from the crisis. It recorded a Government Debt to GDP of 68.80 percent of the nation’s GDP in 2014. Government Debt to GDP in Netherlands averaged 59.85 percent from 1995 to 2014.

7) Spain ($1 trillion)

Global recession in the later part of the first decade of the twenty first century had a negative impact on Spain’s economy. The nation owes a debt of around $1 trillion, which amounts to $24,000 per Spanish citizen. Currently the nation is on the way to recovery.