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Actually you are correct - Greece's debt load is one of the lowest in Europe. The reason it looks high is propaganda; they are using an obsolete accounting meth

Actually you are correct - Greece's debt load is one of the lowest in Europe. The reason it looks high is propaganda; they are using an obsolete accounting method. The modern standard is IPSAS or equivalents which consider what matters - the market value of the debt. https://ftalphaville.ft.com/2016/06/09/2161851/what-if-greece-got-massive-debt-relief-but-no-one-admitted-it-part-2/ https://ftalphaville.ft.com/2016/06/09/2161851/what-if-greec... http://english.capital.gr/News.asp?id=2321087 http://english.capital.gr/News.asp?id=2321087

mpweiher 8y ago
Err...so the debt is "low" because we are assuming it won't be repaid. Hmm...
- akvadrako 8y ago
  It's because of low interest rates, much of it deferred. It's easier to pay off a 10 year loan of $2 @ 1% interest than $1 at 10% interest.
  - mpweiher 8y ago
    And deferring the debt was part of the bailout package.