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Actually, 0.39 Lehmans. Greek debt is around $240 billion and Lehman assets were around $613 billion. Of course, that number does not even consider that count
by tybris 15y ago
Actually, 0.39 Lehmans.
Greek debt is around $240 billion and Lehman assets were around $613 billion.
Of course, that number does not even consider that countries only partially and temporarily default, instead of fully and permanently like limited corporations, and that everyone who owns Greek debt has had a generous advance warning. This is really a comparatively minor crisis.
- chocoheadfred 15y agoWe have it then. A Lehman is a term of measuring crappy financial situations and is worth $613B. So, a correct use would be like "Don't worry, our national debt is only 25 Lehmans."
- goatforce5 15y agoTo me, a country defaulting sounds worse than a bank going under. Does the inability of Greece to raise capital have greater indirect costs and knock-on effects than the failure of Lehmans?