As international creditors mull over Greece’s latest proposals to resolve the debt crisis. Here we have a look at how much Athens owes and to whom
ADVERTISEMENTAs international creditors mull over Greece’s latest proposals to resolve the debt crisis.
Here we have a look at how much Athens owes and to whom.
The Greek total debt is running at some €323 bn, which is spread around various countries and banks across Europe and beyond.
The European bailout amounts to €240bn.
Angela Merkel looms large in this crisis and and when you look at the figures one sees why.
Germany is owed €68.2bn by Greece that is €25bn more than France, which is the second biggest lender.
Writing on the wall: local graffiti shows what Greeks really think about the #Greece crisis http://t.co/pMXFv2e00opic.twitter.com/mHT38M8Zij
— Lauren Davidson (@laurendavidson) July 9, 2015
The troubled economies of Italy and Spain are owed a collective €65bn.
A nation of Banksys but not a bank to be found... #Greek street art about the #Greece crisis http://t.co/rtCoE32F1Zpic.twitter.com/nQFklPIjrq
— Telegraph Finance (@TeleFinance) July 10, 2015
However, it is the smaller EU countries such as Malta and Slovenia, which are in even deeper if you look at debt in terms of a percentage of GDP.
An agreement is essential for Greece and its people.
Panayotis Petrakis is a professor of economics in Athens: “If we have an agreement the country will gain three years of stability in terms of debt repayment it will also give a boost to any productive forces remaining in Greece to grow and stimulate some economic growth.”
Greece is suffocating, the country’s debt to GDP ratio was running at 174 percent in 2014, the highest in Europe.
#Graffiti#culture > “@businessinsider: 6 mind-blowing facts about Greece's economy @BI_Videohttp://t.co/wtdN4wEO7c” pic.twitter.com/d2zrRmBE24
— Ana Brandes (@dedresde) July 1, 2015
Sunday is an important day for Greece and the European Union.