Greek budget deficit 13.6 percent of GDP in 2009

The US budget deficit as a percentage of GDP is nearly 10%. Who says Greece or any other country intends to pay? Eventually, all countries reach a point of debt lethality. In other words, they reach a point in which marginal growth is unable to service the existing debt. Either debt is monetized or new debt is issued to meet debt service payments.

Eric,

When you consider the funds Greece requires compared to what was funneled into US financial entities it is a joke.
Greece is a side show being treated like a main event in order to keep attention off the problems of the US & GB.
There is a limit in time to which a lie can carry the day.

Jim

The European Union's statistics office Eurostat said that Greece's budget deficit in 2009, as a percentage of economic output, was 13.6 percent. That's up from the previous estimate of 12.9 percent and nearly double the 7.7 percent recorded in 2008.

Greece's total government debt as a proportion of GDP stands at a massive 115.1 percent, a burden so large that some analysts think it will have trouble paying it over coming years even if a bailout saves Athens from default this year.

Source: finance.yahoo.com