Skip to comments.EU: Greek debt rises to 303 bn euros
Posted on 08/19/2012 10:59:09 PM PDT by bruinbirdman
Central government debt reached 303.53 billion euros as of June 30, rising by 23.2 billion from March 31, finance ministry data showed on Friday.
Central government data differ from general government debt figures, which are used to calculate the country's debt-to-GDP ratio under eurozone rules.
According to the figures, the overwhelming part of borrowing in the first six months of the year was from the government's official creditors - 76.7 percent from the European rescue fund EFSF and 3.4 percent from the IMF - although 19.9 percent was raised via short term treasury bills.
The ministry said that 96.7 percent of the central government's 303.53 billion euro debt load was denominated in euros. Just 45 percent of the debt was tradable. The figures do not include 20 billion euros of government-guaranteed debt.
Fixed-rate loans made up 43.2 percent of the total with the remaining 56.8 percent being floating-rate debt. Cash reserves at the end of June stood at 3.49 billion euros.
Exit the Eurozone TONIGHT. The ensuing chaos will hopefully overshadow the Akin firestorm that Romney has already had to rebuke.
What is the problem? All Greece has to do is print more Euros. It is not like their currency has to carry them. Let the rest of the EU do it.
Oh, wait, did I hear Finland is planning for the posibility the Euro will collapse? Then what will Greece do?
I guess the rest of Europe can ship all the Euros to Greece once it collapses and the Greeks can use them by the wheelbarrow load to buy a loaf of bread.
The wild inflation is coming, along with a Euro breakdown, and some reverberation to American banks that underwrote part of it.
How much money did our gov’t pitch in?
And Germany is experiencing pressure I’m sure.
Compared to our debt, that seems like chump change.
If you stand and look at Greece and personal lives...it’s a pretty dismal situation. Everything is done in cash. If you’ve run through your savings...then there’s no possibility of getting anything done (car repair, roof repair, drugs at the pharmacy, etc). Take the same principal and lay it over California cities...they are to the point of paying cash for everything, and if they don’t have the cash...nothing will happen.
Greece cannot print. No nation in the EU can print their own. Thats why they have not yet inflated their way out of the situation. That is why dumping the euro and going back to the Drachma is considered a real possibility.
-——they are to the point of paying cash for everything,-——
That is an interesting comment that makes total sense but has not been mentioned in the various reports I have seen. The necessity of paying at purchase in cash can be troublesome if cash flow is eradicate.
must remember to use the sarc tags...
i usually pick up on it without but you seemed so earnest...
I get that a lot. No problem.
I guess Greece is really receiving it “Greek”. :P
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