As the Greek Debt Crisis continues here are the numbers of the Greek debt and what it means for the eurozone
- The Government owes € 320 billion
- The European bailout was € 240 billion
- The country debt to GDP ratio is 177%
- Since 2010 the nations GDP has fallen by 25%
- 26% of the country is unemployed
Who is owed the money?
- The eurozone owns 60% of the debt
- The IMF has 10%
- Various banks such as the European Central Bank, Greek banks, Foreign Banks and the Bank of Greece are owed 11% in total
- while other bonds and loans make 18%
The Greeks help a referendum on whether they would accept the Eurozone and EU’s plans an requirements for another bailout which had a turnout of 63% where 61% voted no and 39% voted yes.
The Greeks have put forward new proposals for help and if the new proposals set out by Greece fail the origination Open Europe estimates that, in terms of bare essentials, Greece could need between €18bn and €33bn in transitional funding to help support its economy after Grexit. This money is unlikely to be provided entirely by the Eurozone. Open Europe expects it could be split equally between the Eurozone, the EU and the IMF.