Greece Greek crisis / 2

Subscribe to our free email alert service

What has happened with the Greek debt?

The idea that Greek debt has shot up is repeated by many, but the truth is debt in Greece has fallen in recent years. The country has gone from owing 355.954 billion euros (495.488 billion $) in 2011 to 317.094 billion euros (421.259 billion $) in 2014, which represents a drop of almost 11%.

The Greeks do not have the biggest debt in the eurozone; in terms of per capita debt, they are below Ireland, Italy, Austria and France. So what is the problem with the debt?