The Covid-19 crisis has raised the stakes worldwide, plunging the global economy into recession and creating unanticipated fiscal pressures for many countries already struggling with domestic problems, geopolitics and global trade wars.
Consequently, analysts have downgraded Bulgaria, Cyprus, Malta, Romania and Turkey in Euromoney’s risk survey.
Greece is the main exception, but lying 60th in the global rankings with a legacy of debt and another economic downturn to endure, it remains one of the riskier EU member states, worse off than Italy or Spain.
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