What was greece spending money on

Calendar Forecast Indicators News. More Indicators. We have a plan for your needs. Standard users can export data in a easy to use web interface or using an excel add-in. API users can feed a custom application. White label accounts can distribute our data.

Government Debt to GDP. Government Budget. Other statistics on the topic. International Countries with the highest public debt Aaron O'Neill. Research expert covering historical data. Profit from additional features with an Employee Account.

Please create an employee account to be able to mark statistics as favorites. Then you can access your favorite statistics via the star in the header. Profit from additional features by authenticating your Admin account.

Then you will be able to mark statistics as favourites and use personal statistics alerts. Please log in to access our additional functions. Yes, let me download! Exclusive Corporate feature. Corporate Account. It used the money to run the country, pay for the Olympic Games and also for things like big pay rises for people who are paid by the government. But they've found it hard to pay it back because when you borrow money, you have to pay what's called 'interest': meaning you pay back more money than you borrowed to begin with.

Many Greeks felt it was unfair to keep paying back the money in the way that they have been doing, because it makes life very hard for ordinary people. But how have things got this bad? Banks in Greece have been closed for more than a week and people who live there limited to getting no more than 60 Euro from cash machines. That happened after the European Central Bank, which has been giving Greece money, decided not to give them any more.

They did this because Greece couldn't reach an agreement with them. Greece then decided to shut the banks and restrict the amount of cash machines that work, because they don't have the money they need.

There are big queues as worried people in Greece attempt to take out their money. Their total debt is billion Euros, which they owe to various countries and banks within Europe. However, the Foreign Office says that you should take enough to cover all contingencies, including emergencies such as medical problems, missed or cancelled flights.

Travellers have also been warned to take enough medicine with them and additional prescriptions in case they face any delays in the country. Yes, Greece will still be accepting the Euro for the time being. If it does decide to change currencies, the country will be accepting euros for some time before the changeover is complete.