Who owns greek debt

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The Greek economy is dependent on tourism — one of the sectors hit hardest by the crisis — and other service sectors that require a high a level of physical proximity. These sectors might not fully return to their pre-pandemic levels in the near future. While Greece will channel the EU funds into its economy, structural reforms under the National Growth Strategy will boost investment and growth by:.

Greece will also need to improve its absorptive capacity to make good use of EU funds and invest them in the most productive areas.

This requires longer-term commitments by the Greek government beyond the current National Growth Strategy. Climate change poses other future risks. The needs and challenges Greece and other EU countries face in the coming years will be supported by common initiatives beyond the Next Generation EU package.

They will allow the financial sector to finance the recovery, which will alleviate budgetary pressures and thereby contribute to debt sustainability. The Commission is also set to review the fiscal framework to make it more effective and better suited to the current fiscal challenges. Springer Nature. According to the Greece 2. The views expressed are those of the author s and do not necessarily represent the views of the ESM and its Board of Governors, Board of Directors or the Management Board.

Lending Toolkit. The context A temporary backstop The programmes The results. Timeline Overview Explainer. Euronomics: A fresh look at Greek debt sustainability. Rolf Strauch. A new debt sustainability environment The structure of Greek debt has much improved.

Effective interest rate. Upholding market confidence and fiscal leeway Greece needs to sustain market confidence even amidst less favourable long-term financing conditions.

The governing radical-left Syriza party had urged people to vote "No" - arguing the terms were humiliating - while the "Yes" campaign warned that a "No" result could see Greece ejected from the eurozone. In the end, voters decisively rejected the bailout terms, with Experts suggest there are at least three scenarios after the country's "No" vote:. If Greece were to leave the euro, the process of implementing a new currency would take many months to complete.

The printing of new bank notes would have to take place in secret and capital controls would stop money leaving the country. Greece in numbers.

How much debt is Greece in? When does it have to pay it back? Why is it in so much trouble? Image source, BBC. What do the Greek people think?