UK Less Financially Stable Than Nigeria, Panama, and Bangladesh

The US fared even worse in a recent ranking, and lost its title as world’s leading financial center to the United Kingdom. The World Economic Forum (WEF) produces a list of leading financial centers that the US previously topped, but that’s no longer the case.

This year the UK is number one, and previously 11th ranked Australia has risen to second place, bumping the US down to third. It’s just one more insult added to injury the US financial sector has sustained as a result of the financial crisis.

That said, even the top-ranked UK received a “very poor” score for financial stability – no shocker there – but in that category also found itself trailing financial powerhouses such as Nigeria, Panama, and Bangladesh. It’s a sad reality that must sting a bit.

See the top ten list of ranked countries and more details in The Times’ coverage of the World Economic Forum rankings.

The Daily Reckoning