Fact Of Greek Economic Crisis

Greek Tragedy

1) Total Greek debt 340 Bn Euro

Total Greek debt 340 Bn Euro = 31 0000 Per Person
Greece is about to get a second bail-out from the EU, aimed at helping pay its debts until 2014.
It also has to agree more cuts as part of the deal.

2) The economy

Value of Athens Stock Exchange Down By 77 %
43 % Un empolemnt amoung the 15-24 Years Old


The Greek economy is in dire straits. Retail sales have fallen 18% since 2008 and manufacturing output has dropped 30% in the same period.

3) Working population
3,0000 Euro Tax Evasion per peron annually
3150 Euro Goverment bowwing per person in 2010

Greeks retire on average at 61. Tax evasion is widespread. Until 2010, public sector workers received two months extra pay a year in bonuses


4) EU demands

50 BN Euro Value of Public assets to be sold off
1270 Euro spenidg cuts over next Five Years

To meet EU demands, Greece must sell 50bn euros-worth of public assets by 2014, equal to 20% of GDP. Public sector pay is being cut 15%