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J_J_

(1,213 posts) Fri Jul 10, 2015, 11:43 AM Jul 2015

In 2005, Greek debt was $5.1 billion euro - what is the debt now?

When the first debt deal was struck in 2001, Greece owed about 600 million euros ($793 million) more than the 2.8 billion euros it had borrowed. Goldman then cooked up an off-the-books derivative for Greece that disguised the shortfall but increased the government’s losses to 5.1 billion euros. In 2005, the deal was restructured and the 5.1 billion euro debt was locked in. After that, Goldman and the rest of Wall Street pulled the global economy to its knees – whacking Greece even harder.

https://www.facebook.com/RBReich?fref=ts

I can find the exact number of the debt now, does anyone know?

3 replies

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Highlight:

In 2005, Greek debt was $5.1 billion euro - what is the debt now? (Original Post) J_J_ Jul 2015 OP

That's a figure for the particular caper GS was involved in muriel_volestrangler Jul 2015 #1

That is nothing compared to American debt...and not even including state debt: Fred Sanders Jul 2015 #2

Greek government debt is 177% of GDP muriel_volestrangler Jul 2015 #3

muriel_volestrangler

(101,318 posts)

1. That's a figure for the particular caper GS was involved in

Reply to J_J_ (Original post)

Fri Jul 10, 2015, 12:04 PM

Jul 2015

which has almost certainly since been mixed up in subsequent bailouts, haircuts and so on.

Overall Greek government debt is listed here: https://www.cigionline.org/sites/default/files/cigi_paper_33.pdf (figure 2)
2005: about €195bn
2013: about €320bn