Every Greek owes (€30,000) double their annual income to foreign lenders
- Written by E.Tsiliopoulos
Every Greek is burdened with a €29.700 debt to the country’s foreign creditors, which is double the average of their annual gross income, according to an SEV (Hellenic Federation of Enterprises) analysis based on the OECD’s “How’s Life” study.
Greece is ranked last (35th) with regard to the sustainability of prosperity in the future, with Portugal occupying the second last spot among the OECD 35 members-states.
The Scandinavian countries took the top four spots, with Sweden holding the first position.
Greece fared relatively better in the dimension called “Natural Capital” coming in 23rd but was the worst (35th) in the “economic capital” dimension due to foreign debt and the collapse of investment and banking financing in recent years.
It came in 4th and 5th from the bottom in social and human capital dimensions, respectively, according to SEV, which is a result of the lack of citizens’ trust in the institutions and the low quality of professional and cognitive skills of the population, respectively.
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