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  • 1 min

The Public Debt to GDP ratio in Greece

  • 10 July 2015
  • Philippe Waechter
  • Greece
  • Grexit
  • Troïka
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The ratio of public debt to GDP is amazing when it is decomposed.
GDP since 2009 was down by more than 20%. During this period the debt has not grown so much.
In other words, the profile of the ratio of Public Debt to GDP reflects mainly the drop of the economic activity. This is the consequence of the austerity policy that was imposed to Greece by the troika. (See here for the Greeks’ effort)
We can then understand that the debt relief discussion that will come after the agreement on yesterday’s proposals by Tsipras is just a counterpart of this persistent austerity.
070715krugman1-blog480Source Paul Krugman (see here)

Related Topics
  • Greece
  • Grexit
  • Troïka
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  • 13 January 2020
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  • 2 min

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  • 17 December 2019
  • France

Philippe Waechter

The Markit survey for France does not suggest in December an inflection that can be linked to the social movement. The economy’s capacity to adapt is stronger than we imagine…
  • Business Cycle
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  • 3 min

Brexit will take place on January 31

  • 13 December 2019
  • International

Philippe Waechter

The British vote validates the choice of Brexit and the exit from the European Union on January 31, 2020. Boris Johnson is free to define his strategy. Boris Johnson’s huge…
  • Boris Johnson
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