Looks like Credit Suisse has jonied the conspiracy trying to undermine Spain.
Here’s a ranking of countries by perceived risk, taking into account things like current account balances, public and private debt, and CDS spreads. It comes from a note on the impact of sovereign risk on European banks, published on Wednesday by Jagdeep Kalsi, which you will find in the usual place.
Somehow the CS man has managed to rank Spain above the likes of Latvia, Ireland, Ukraine, Romania and Turkey in terms of riskiness.
Click for clarity.