Various Sources: Entire World Insolvent Soon

. . . but what about, uh, the nation of Switzerland? Its two largest banks hold about 10 times the nation's total GDP on their balance sheets, which means writedowns could require an Iceland-style bailout by other counties. Once that happens, it may only be a matter of time before the kingdom of Great Britain and Northern Ireland declares bankruptcy.
Business journalist Will Hutton noted in the Guardian that Britain's heavy dependence on financial services left the country looking like "a gigantic hedge fund" whose "fall could get out of hand." But the indomitable British spirit compelled Hutton to add, triumphantly, "we may muddle through."