Opinion & Insights

Why another Greek bailout is a disaster waiting to happen.

Written by Manny Sinder

[Originally posted 13/07/2015]

Greece’s population is 10.8 million and its GDP (gross domestic product) is about $200 billion

External debt (public and private debt owed to lenders outside Greece):

$568.7 billion (30 September 2013 est.)

National debt:

$375 billion

Central Government Budget:

Revenues: $119.5 billion

Expenditures: $127.9 billion (2014 est.)

Budget surplus (+) or deficit (-):

-3.4% of GDP (2014 est.)

Public debt:

174.5% of GDP (2014 est.)

Labor force:

3.91 million (2013 est.)

GDP – per capita (Purchasing Power Parity):

$25,800 (2014 est.)

Unemployment rate:

26.8% (2014 est.)


$35.8 billion (2014 est.)


$62.8 billion (2014 est.)

Imports – partners:

Russia 14.1%, Germany 9.8%, Italy 8.1%, Iraq 7.8%, France 4.7%, Netherlands 4.7%, China 4.6% (2013)

Reserves of foreign exchange and gold:

$6.433 billion (February 2015 est.)

By 2013 the economy had contracted 26%, compared with the pre-crisis level of 2007. Tourism provides 18% of GDP.

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About the author

Manny Sinder

Manny Sinder is a professional trader, entrepreneur and author. All articles written by the author are solely his opinion and do not intend to vindicate any named person or institutions mentioned.


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