Greece will make a €6.9 billion early debt repayment in June that will push its debt-to-GDP ratio below Italy's for the first time, ending its status as the Eurozone's most indebted nation relative to economic output — a symbolic milestone that carries significant weight for a country that needed three international bailouts to avoid bankruptcy.
Greece seriously needs some growth to kick in. 2% yearly growth would reduce their debt to gdp by 13% in 5 years while making it easier to pay of the principal.
If they continue like this but with 2% growth they could pay it off relatively quickly.
Greece seriously needs some growth to kick in. 2% yearly growth would reduce their debt to gdp by 13% in 5 years while making it easier to pay of the principal.
If they continue like this but with 2% growth they could pay it off relatively quickly.