How much money does Greece owe?

Answer 1

Because they sold bonds to investors which came due and they did not have enough money to pay them because of a weakening economy as a result of the 2008-2009 financial crisis. This led them to get bailout loans from other nations that put them further in debt. They have received 2 big bailouts already and now need a 3rd very soon to avoid default on more loans coming due. Forced austerity measures as conditions placed on further bailouts will cause their economy to contract and reduce their ability to ever get out of debt. They are in a downward spiral so to speak with no real hope of getting out of it. This is why their bond prices have plummeted and their interest rates have shot up. Their bonds have been reduced to non-investment grade status so they cannot even sell more bonds to raise money to pay off the ones coming due. The European Financial Stability Facility (EFSF) will decide soon what do in the next bailout. A recent proposal (not yet finalized) as part of the bailout is for the EFSF to partially insure Greek Bonds against default to encourage investors to buy them again. The final plan is to be announced October 26, 2011.

Answer 2

Greece's debt is kinda huge for a kind of country. Even if it has the 8th biggest merchant navy in the world (!) ; Greece can't pay 163.219.116.222,89 US Dollars.

Greece has been under the "tyranny" of this dept since 2008...Grecce has been in dept from the loans that it took for building big structures such as the stadiums for the Olympic Games of 2004,the Eurovision contest stadium and such...

...But Greece has an "ace" under it's sleeve that is afraid to use....Germany has a 500 billion euros loan on Greece , as Greece helped crippled from WWII Germany to stand on it's feet...but sadly Greece is afraid to use it....

This is in a short answer(And yes it is short)for Greece's debt and how much US Dollars it is converted from euros...Also this small article was written by a greek

Answer 3

In 2011, Greece's national debt was $488 billion and the country was undergoing austerity measures to repair the countries poor economic condition.

Answer 4

Well, Greece bet Great Britain 5 bucks that they would win World War II. Obviously Greece lost that bet. So as of now they owe Great Britain 5 bucks.

Answer 5

Well, Greece bet Great Britian 5 bucks that Germany would win World War II. Obviously, they lost that bet. So, they owe Great Britian 5 bucks.

Answer 6

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