Just how much is the greek debt?

A quick Google search reveals it with very very large lettering. The Greek Debt is standing, as of 2011 at 170% of its GDP. This is a relatively large number, currently standing at 469.2 billion dollars and if you look at the economy of Greece it is colossal. However, there is another truth to this number, that comes out when compared to other countries, say, Germany.

German debt currently stands at 80.5% of their GDP but that does not mean Germans are any less screwed. If you add it up it is an astounding 2.89 trillion dollars, or, in other words if Germany wanted to pay it’s debt back right now, in cash it would require 59% of all the currency currently circulating around the world.

Back to the greek debt, the situation was not always like that. The greek economy saw the highest number of growth rate in Europe through 2000-2007, but even at this time government spending was recording deficit, that was continuing for decades. In 2010 deficit it grew to an alarming 12.7%, and right now, even with the help of the rest of the European Union, the national debt is projected to lower by 1% yearly, if the country’s GDP stays the same.