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Chicago Fed Letter, No. 362, 2016
Debt Statistics a La Carte: Alternative Recipes for Measuring Government Indebtedness
According to Eurostat, the Greek government owed €317 billion in debt at the end of 2014. This is equivalent to more than 177% of gross domestic product (GDP) or 387% of tax revenue, and amounts to almost €30,000 per person. This seems like a very large sum. For comparison, of the other highly indebted European countries that received financial assistance, Portuguese government debt amounted to 130% of GDP, while Irish government debt amounted to 110% of GDP.
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