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.)

Exports:

$35.8 billion (2014 est.)

Imports:

$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.

Sinder Trading Academy Premium Subscription Offer

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.

3 Comments

  • You made some decent points there. I checked on the net to find out more about the issue and
    found most individuals will go along with your views on this site.

  • Way cool! Some extremely valid points! I appreciate you
    penning this write-up plus the rest of the site is
    extremely good.

  • I’m still learning from you, but I’m trying to reach my goals. I absolutely enjoy reading everything that is written on your website.Keep the tips coming. I liked it!

Enjoy this blog? Please spread the word :)

Follow by Email
Facebook
Facebook
Google+
http://www.sinderacademy.com/why-another-greek-bailout-is-a-disaster-waiting-to-happen/
RSS