Spain: 1557, 1560, 1575, and 1596,  during the reign of Philip II (1556-1598).

France: 1797 – the French Revolution, the rise of Napoleon.

Great Britain: 1934 (defaulted on its World War I debt to the USA). In the wake of World War II, though technically not bankrupt, Britain accumulated a huge national debt, mostly to the USA. The war significantly depleted Britain’s industrial capacity and overseas financial reserves. That negatively impacted its ability to export goods and pay for imports. To reduce financial burdens, the Labor government accelerated the process of decolonization. That led to its withdrawal from Palestine (with all its convulsions, still ongoing), and the independence of India (which split into India and Pakistan).

Russia: On February 8, 1918, the Soviet government canceled all Russian government debt, including debts from the Russian Empire and the Russian Provisional Government. In the wake of the Soviet Union’s dissolution in 1991, the Russian government faced economic collapse. Its GDP contracted by an estimated 40% between 1991 and 1998. In response, the Russian government printed large amounts of money, imposed price controls on most goods and heavy new taxes, and drastically cut government subsidies and funding to state welfare spending. In all cases war, whether hot or cold, was the cause of these actual or de facto bankruptcies.