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158 votes

Why is Greece's debt considered a problem but not US debt, which is much larger?

I know that the population of Greece is much less than in the U.S., however I do not think it matters to people "lending" money to the governments This is where you are mistaken. The lender is ...
Royal Canadian Bandit's user avatar
66 votes
Accepted

Why is Greece's debt considered a problem but not US debt, which is much larger?

It's going to be difficult to really choose a "best answer" here since to some extent the factors involved, and especially which ones are "most important" is going to be a matter of opinion. And this ...
RCM's user avatar
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63 votes
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How is Japan able to sustain a large debt as a percentage of GDP, while Greece could not?

Their economies are radically different otherwise. Greece has a weak economy in most fields, with the exception of tourism. Japan is a manufacturing and scientific powerhouse. Greece runs recurring ...
Italian Philosophers 4 Monica's user avatar
46 votes
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Did Germany profit from the (third) Greek bailout?

No. As long as the original credit of 330 billion euros is not paid back, you can hardly argue that the interest should be considered as a profit. In fact, the starting time for interest payback has ...
Cliff's user avatar
  • 734
40 votes

Why is Greece's debt considered a problem but not US debt, which is much larger?

Greece has a higher debt-to-GDP ratio than the United States. Greece's debt-to-GDP ratio is 182% which is the highest in Europe and 2nd highest in the world. In comparison, the US's higher debt-to-GDP ...
Panda's user avatar
  • 46.6k
31 votes

Why have the states of Greece and Macedonia failed to solve the naming dispute after so many years?

It is often the little things that are hardest to settle. In a complex trade negotiation there is room for give and take on both sides. So both sides can come away from the negotiations feeling that ...
James K's user avatar
  • 122k
29 votes

How is Japan able to sustain a large debt as a percentage of GDP, while Greece could not?

One little Japanese secret is this (alas the data was as of 2016): Of Japan’s net debt of 130% of GDP, about half (66% of GDP) is owed to the Bank of Japan, which the government in turn owns. By ...
got trolled too much this week's user avatar
27 votes
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Why has Turkey "opened the floodgates" for migrants to the EU?

It's probably part of the pressure/negotiation tactics of Ankara, as they have a long history of threatening Europe with this: Turkish government representatives, and even President Recep Tayyip ...
got trolled too much this week's user avatar
22 votes

Why have the states of Greece and Macedonia failed to solve the naming dispute after so many years?

Their fears do have a basis in reality; the Macedonian government has become more nationalist recently, and their messaging paints them as the heirs of Phillip of Macedon and Alexander the Great. So ...
Keshav Srinivasan's user avatar
14 votes

Since Greece wants FYROM to be named "North Macedonia", why don't they make an example call their own region "South Macedonia"?

From the point of view of many of the Greeks making the objection, "Macedonia" should be the land on Philip of Macedon and Alexander the Great. The core of this territory lies in modern Greece, so for ...
origimbo's user avatar
  • 21.4k
14 votes

How is Japan able to sustain a large debt as a percentage of GDP, while Greece could not?

Brief - though partial - answer: Japan is an independent state, which prints its own currency. Greece is a member of the EU, and its currency, the Euro, is controlled by EU bodies - It could not ...
einpoklum's user avatar
  • 8,895
13 votes

Why are the Greek nationalists against resolving the name dispute and calling FYROM "North Macedonia"?

This is a problem of nationalism. Not just Macedonian or Greek nationalism, but in general. So the reasons for Greek nationalists is really exactly the same as for FYRO-Macedonians: Macedonian ...
LаngLаngС's user avatar
  • 5,012
11 votes
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Why wasn't Greece kicked out of the Euro once it was clear that they falsified their statistics to join in the first place?

Kicking Greece out would be the same as admitting the politicians had made a mistake. And as you know, they never admit that - at least not voluntary. "Kicking the can and hope the problem disappears ...
Sjoerd's user avatar
  • 5,450
9 votes

How is Japan able to sustain a large debt as a percentage of GDP, while Greece could not?

Japan has a strong industrial base and an export-led economy. Greece, beyond some tourism and some exports in the food industry, didn't have very much and imported a lot more than it could export. ...
FluidCode's user avatar
  • 8,587
8 votes
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Since Greece wants FYROM to be named "North Macedonia", why don't they make an example call their own region "South Macedonia"?

Because FYROM wants to change its name and Greece doesn't. Macedonians of Greece object to being called South Macedonians all of a sudden because that's not their identity - as far as they're ...
rath's user avatar
  • 196
8 votes

Are there any laws that would oblige the EU to assist an EU-member that is attacked by a non-member

It depends on the official determination on who is the aggressor. In any but the most blatant attacks, this determination will be a political process. Most EU countries are obliged to defend Turkey ...
o.m.'s user avatar
  • 111k
8 votes

How is Japan able to sustain a large debt as a percentage of GDP, while Greece could not?

Percentages are misleading in this case. Looking at the raw GDP numbers paints a clearer picture (metrics from World Bank as reported by Google search) Greece's peak GDP was 354B (0.35T) USD. It's ...
Machavity's user avatar
  • 50.1k
7 votes

Why are the Greek nationalists against resolving the name dispute and calling FYROM "North Macedonia"?

Based on conversations with a Greek colleague from Kavala, at least some of these people find the use of "Macedonia" for any region outside of either "Greek Macedonia" or the Macedon of Philip the ...
origimbo's user avatar
  • 21.4k
7 votes

Did Germany profit from the (third) Greek bailout?

No and yes. The thing is that "Germany" can either be the sum of all companies and entities in Germany OR the German Government. The latter lost money. The first actually made some by Greece being ...
Hobbamok's user avatar
  • 1,228
7 votes
Accepted

Did the Greek economy contract more than Syria's in the past decade?

Apparently, the most recent data for Syria exposed in IMF's World Economic Outlook Database is from 2010. For example, see this query on inflation, for all the countries you mention, from 2000 to 2020....
yannis's user avatar
  • 9,631
7 votes

Why is Greece's debt considered a problem but not US debt, which is much larger?

There are a number of factors which indicate how much of a problem debt is, these apply to both countries and individuals. First is how large the debt is as a proportion of GDP. This provides a ...
Chris Johns's user avatar
  • 1,122
7 votes

Why has Turkey "opened the floodgates" for migrants to the EU?

8 years ago (in 2012) when this refugee crises started, the streets of cities in Turkey were full of Syrians. They were cutting your way asking for money, collecting food from trash. Today (in 2020) ...
Orçun Çolak's user avatar
7 votes
Accepted

What legal recourse is available in the EU if it turns out that Greece has been doing "illegal pushbacks" of asylum seekers?

Your posting mixes advocacy and questions. Non-refoulement does not allow a refugee to cross as many borders as he or she likes. It requires the refugee to be processed and housed at the first safe ...
o.m.'s user avatar
  • 111k
6 votes

Logic behind the reaction of Greek government over the national crisis

To address the rationale for all 3 points: The Greek debt crisis included a budget crisis. The debt wouldn't have been a problem if the budget was sufficiently in the black to pay interests and repay ...
MSalters's user avatar
  • 5,465
6 votes

Did Germany profit from the (third) Greek bailout?

YES With the following caveat: No one word answer will satisfactorily answer this question. It is further almost quite unlikely to get an accurate picture from German sources about this. The whole ...
LаngLаngС's user avatar
  • 5,012
6 votes
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Has Turkey released the Greek soldiers they apprehended in 2018?

The soldiers mentioned above were released on the 14th of August 2018, 167 days after their apprehension. You can find a full timeline of events about this on here (in Greek). Their release, pending ...
Leon's user avatar
  • 688
5 votes
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Is the dispute over the naming of Macedonia unique in recent history?

No, i don't know if this counts as recent but there was a dispute between the UK and the Irish on if Ireland should be named Eire or Ireland, and as the UK says, "His Majesty's Government in the ...
user50780's user avatar
  • 548
5 votes

Why is Greece's debt considered a problem but not US debt, which is much larger?

As others have said, the Greek debt is more problematic for Greece than the United States debt is for the US. Greece's debt is larger compared either to Greece's GDP (Gross Domestic Production) or to ...
Brythan's user avatar
  • 89.8k
5 votes
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What effect did Greece being a member of the EU have on its debt crisis?

Part of being in the EU is shared fiscal policy and shared currency. This meant that Greece couldn't devalue their currency and inflate the debt away. Its somewhat debatable, if doing so would have ...
Ryathal's user avatar
  • 13.9k
5 votes
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Did the government of Greece approve 'haircuts' on citizen's deposits to reduce the damage of the 2008 financial crisis?

The Greek government has not conducted 'haircuts' like those described by Antonopoulous, and certainly not to the extent he suggests, with deposits worth over €50,000 being charged a 20% fee. The ...
CDJB's user avatar
  • 108k

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