Greek debt in numbers and what is the solution?
Greece is in focus again, let’s see how the debt looks like in numbers by its creditors. Greek government debt stands at 323 billion euros, over 175% of the country’s GDP. About 246 billion euros was lent by other countries in the eurozone, the European Central Bank and the International Monetary Fund. But, which country has most exposure? As you can see, 27% of total loan or 56 billions euros came from Germany and it’s aproximate 700 euros per citizen. It is normal for Germany to reject any furder debt cuts, which would mean losses for its taxpayers. Btw. Greece has to repay part of the IMF loan in March and IMF has already rejected the special treatment for Greek government. But, most of the analysts expect some sort of restructuring and this is the only solution for this saga. Debt restructuring! Otherwise, the euro can expect an even bigger debacle in the market.