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Greek Debt Official report: How many billions of euros has Greece to pay back until 2057?

After two bailouts and one debt restructure, Greece’s debt is still exorbitantly high and the country will need another 42 years to pay back what it owes to its lenders, provided that no new debt will be added, not extra interest rates will be added up in case of inability to serve the debt. Year in, year out Greece will have to pay an average of 10 billion euro to the International Monetary Fund, the European Central Bank, to the EU and each EU country separately, and several financing institutions.

According to the Data submitted to the Greek Parliament by the Public Debt Management Agency (ODDHX)

The Debt of the Public Administration at 30. April 2015 after swaps was:

312,679,022,950 euro or just €312.6 billion

Analytically the debt in euro is distributed in:

•Treasury bills: 14,943,985,150
• Bonds: 39,380,106,240
• Bonds ANFA: 7,309,342,288
• Bonds held by the ECB: 19,874,176,528
Loans from the BoG: 4,265,072,006
specific transnational foreign loans (European Investment Bank): 7,094,520,535
Other foreign loans: 5,081,086,468
Loans from EFSF: 130,909,000,000
Loans from Euro area Member States: 52,900,000,000
Loans from IMF: 20,634,653,567
Short-term loans (repos): 10,286,954,529
Total: €312.679.022.950

According to the PDMA document, the net amount to be paid for repayments from 01.05.2015 until the end of 2015 is13.1 billion, since payments that occur in the same year (€25.2 bn.) are refinanced debt (Treasury bills and repos). The amount that has to be paid for the same period of time for interest rates stands at is  3.1 billion.

The Public Debt Management Agency has also submitted the road map for payments starting 30. April 2015 until 2057.

Example:

2015: €38.328 billion
2016: €7.227 billion
2017: €9.648 billion
2018: €4.600 billion
2019: €13.628 billion
2020: €5.080 billion
2021: €5.154 billion
2022: €6.907 billion  …

2050: €500 million
2053: €2 billion
2054: €6.3 billion
2057: €1.13 billion

Full list of repayment road map here (in Greek)

Repayments to the IMF extend until 2024 and the road map is:

2015: €5.498 billion
2016: €2.995 billion
2017: €708 million
2018: €1.763 billion
2019: €2.046 billion
2020: €2.046 billion
2021: €2.046 billion
2022: €1.910 billion
2023: €1.338 billion
2024: €284 million

Public Administration reserves on 31. March 2015

Greek debt

As for the reserves  of the Public Administration, the amount was 796.5 million euro on 31. March 2015. Three months earlier, on 31. December 2014 the available money was €2.5 billion.

Merkel and Hollande

And if we want to know who holds the majority of the Greek debt… it is Germany and France, the new Axis of the eurozone. And now we know, why German Chancellor Angela Merkel keeps leading around French President Francois Hollande. It’s for the sake of their mutual interest.

According to Brussels think tank Bruegel.org the official exposure of Germany and France to Greece amounts to close to €160 billion.

PS And if we remain happily married to our creditors ever after, we will keep feeding them with money we do not have.

Each Greek aged 0-100 has an average debt of  €30,000. That is for the next 42 years each Greek will have to pay annually to the lenders at least €714. Independently of whether he has income or not, suffers from recession, austerity and unemployment. Or he has simply passed away.

 

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3 comments

  1. This is a wealth of information thanks for posting.

    Ill have to take issue with your conclusion though. First of all the yearly payment vary a lot from year to year so just averaging them doesnt say that much. But more importantly even if there is an economic miracle and everything is going rosy for the next 42 year the state wont pay down all the debt until then at least a part of it will be refinanced instead.
    And finally it is not independent on income and or other circumstances. It is very much dependent on who your government decides to place the burden on. This you should know since I remember an execellent article here showing that in past years that burden overwhelmingly was placed on the lower income population.