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Greece: Debt to IMF increases by EUR 18 billion – report

by - Published: at 1:03 am
Modified: Aug 26, 2013 at 1:03 am
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The shocking fact that the Greek public debt is currently EUR 321 billion, allegedly leaked from the IMF headquarters in Washington, has launched an avalanche of negative reactions in Athens,  reported Z.Šimunec especially for the Serbian daily “Novosti”.

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The six-months accounting period, that concluded on June 30, shows that currently Greece owns more than in 2009, when the crisis began, and that compared to the second part of 2012, the debt has increased for EUR 18 billions, because the country entered the new year with the debt of EUR 303 billion.

Although experts, who understand the public policy, point out that the structure of the debt is completely different compared to the beginning of the crisis, as well that the reforms process itself can significantly affect the change in the image of Greek economy, for the opposition this is the best sign that “not a minute longer should Greece and the Greeks be left in the grip of its creditor leeches,” reported Novosti.

The record debt of 180 percent of GDP, according to the opposition leader Alexis Tsipras, is the result of “the policy that has been forced through the entire time by the Prime Minister Antonis Samaras”. The president of the leading opposition party Syriza, said that his policy represents a synonym for total bankruptcy. The communist party finds that “Greek people will also pay this bill, and then Samaras and IMF will agree on who is wrong”.

Economic experts in Athens openly concluded that Greece will not be able to overcome its economic problems without new debt relief or a serious injection of aid from the European Stability Fund.

However, contradictory news comes from Germany. The Minister of Finance, Wolfgang Schaeuble, denies and then unofficially admits that yet another portion of Greek debt will have to be written off.

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