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View Diary: Beware of Greeks bearing debt (141 comments)

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  •  Total greek debt about 450B euros. (0+ / 0-)

    IOW, the sort of debt that's huge for Greece, a poor, small country, but could be paid off out of petty change by bigger economies or the IMF.

    Eyjafjallajokull Volcano eruption hurls random letters into the atmosphere, disrupting communications worldwide.

    by Inland on Wed Apr 28, 2010 at 04:38:01 AM PDT

    [ Parent ]

    •  Where did you get 450 B Euros? (1+ / 0-)
      Recommended by:
      Inland

      Last I saw (yesterday) it was at less than 300 B Euros.

      Around 275.

      If it were at 450 B Euros, we'd be talking global meltdown, since Greece's GDP is about 240 to 250 GDP.

      A debt approaching 200% to GDP? Only one country in the world has managed that: Japan.

      There are two kinds of people in this world. The kind who divide the world into two kinds of people, and the kind who don't.

      by upstate NY on Wed Apr 28, 2010 at 07:06:59 AM PDT

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      •  Yeah, I screwed that up. (1+ / 0-)
        Recommended by:
        upstate NY

        Greece already pays almost 2 percent more in interest on its debt than Germany. In other words, at a total debt of €270 billion ($402 billion), Greece will be paying €5 billion more in annual interest than it would if it were Germany. And, with rating agencies threatening to downgrade the country's already dismal credit rating, the situation is only likely to get worse.

        Yesterday's Der Speigel English

        http://www.spiegel.de/...

        Eyjafjallajokull Volcano eruption hurls random letters into the atmosphere, disrupting communications worldwide.

        by Inland on Wed Apr 28, 2010 at 10:10:27 AM PDT

        [ Parent ]

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