The Index of Shame

Let's call it "the index of shame": i.e. the countries listed by number of defaults on their sovereign debt. I am wondering why rating agencies do not look at that when issuing their crappy ratings. If Italy had been as bad as most of the western countries when it comes to pay its own debt, it would have no debt at all. Italian politicians should think about it and make sure we join the club of defaulted countries together with Germany, France and the United Kingdom (the nice big ones). 

Country N. of defaults

 Spain 18

 Ecuador 11

 Venezuela 11

 Brazil 10

 Mexico 10

 Argentina 9

 Chile 9

 Costa Rica 9

 Peru 9

 El Salvador 8

 Uruguay 8

 Colombia 7

 Dominican Republic 7

 Greece 7

 Russia 7

 Bolivia 6

 Nicaragua 6

 Paraguay 6

 Portugal 6

 Turkey 6

 United States 6

 Nigeria 5

 Panama 4

 United Kingdom 4

 Angola 3

 Austria 3

 C?te d'Ivoire 3

 Germany 3

 Guatemala 3

 Honduras 3

 India 3

 Morocco 3

 Myanmar 3

 Republic of China (1912–49) 3

 South Africa 3

 Sri Lanka 3

 Zimbabwe 3

 Archduchy of Austria 2

 Austrian Empire 2

 Bulgaria 2

 Central African Republic 2

 Egypt 2

 Ghana 2

 Hungary 2

 Japan 2

 Kenya 2

 Poland 2

 Sweden 2

 Tunisia Tunisia 2

 Ukraine 2

 Yugoslavia 2

Germany - Prussia 2

 Albania 1

 Algeria 1

 Antigua and Barbuda 1

 Austria-Hungary 1

 Barbados 1

 Cameroon 1

 Congo (Kinshasa) 1

 Croatia 1

 Denmark 1

 Dominica 1

 France 1

 Gabon 1

 Grenada 1

 Guyana 1

 Indonesia 1

 Iran 1

 Iraq 1

 Jamaica 1

 Jordan 1

 Kuwait 1

 Liberia 1

 Madagascar 1

 Mongolia 1

 Mozambique 1

 Netherlands 1

 Romania 1

 Rwanda 1

 Sierra Leone 1

 Solomon Islands 1

 Sudan 1

 Surinam 1

 Thailand 1

 The Philippines 1

 Trinidad and Tobago 1

 Vietnam 1

 Zambia 1

Canada - Alberta 1

Germany - Hesse 1

Germany - Schleswig-Holstein 1

Germany - Westphalia 1

United States - 10 states and many local governments 1

United States - 9 states 1