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None. Italy will be hardest hit due to tourism. But they'll rebound eventually as well.

I'll guess Canada is in the running. Their oil industry just folded up, their major export nation ain't buying their manufactured goods, 30% of their GDP was exports, and they've got one of the highest household debt ratios in the world. So far their currency has only dropped about 11% this year. They're in a heckuva mess.

Misc says

I'll guess Canada is in the running. Their oil industry just folded up, their major export nation ain't buying their manufactured goods, 30% of their GDP was exports, and they've got one of the highest household debt ratios in the world. So far their currency has only dropped about 11% this year. They're in a heckuva mess.

Nothing new. Canada has always underperformed economically. Still a beautiful country. They'll be alright.

Russia: they don't produce anything of value except oil, natgas, vodka and cheap whores (and the prices for all four are in the shitter right now and in the near future). And they have shitload of unnecessary expenses, like stupid pipelines to nowhere, stupid wars in Syria and Ukraine, stupid client states like Venezuela and Armenia, stupid land grabs like Crimea, Abkhazia, Ossetia, and Transdniestria, etc.

Well lets see the first economically failing nations...let me give you some clues.
#1 Hands down Saudi Arabia


#2 ______
manufacturing has been sent oversea
its car industry is in shambles
largest oil producing country by far
Largest plane-maker is going chapt 11
Largest conglomerate to follow in its wake ( also a plane engine maker )
Close to non-existent middle-class

Canada is a close #3
Eurozone has already derailed long-time ago, China is a communist state so it economically failed some 60 years ago.
Japan and Korea has falling birth rates...

Misc says

I'll guess Canada is in the running. Their oil industry just folded up, their major export nation ain't buying their manufactured goods, 30% of their GDP was exports, and they've got one of the highest household debt ratios in the world. So far their currency has only dropped about 11% this year. They're in a heckuva mess.

Canada oil industry HAS NOT folded up, every single oil-producing countries who has a floating currency see their cost going down with their currency. Oil sands also have long-life reserve low operating cost, ( like self-driiving haul trucks ), low borrowing cost, SAGD production cost are among the lowest but produce lowest quality Heavy Oil, Synthetic oil is sold at a premium to WTI.

So shale cost are not going down and Saudi Arabia riyal is pegged to USD. Also why do you think the USD strenght and economic recovery coincide with the US pumping record level of oil and why US has been destroying competing oil producers ( Lybia, Syria, Iran )?

The very first oil producers to tap out will be the unhedged producers / highly leverage. Among the large producers OXY will go first.