Greece Among Most Indebted Countries

According to a recent study showing the per capita debt of each country, Greece is placed in 12th. However, countries that are considered as successful examples of fiscal policy are higher on the list. Japan with 127.1 million population comes first.  Japan’s debt is equal to 242.3% of the country’s GDP and every Japanese citizen owes 99,725 dollars to the country’s creditors.  Ireland is second on the list of per capita debt. With a population of 4.6 million residents, Ireland has an debt equal to 121% of its GDP and every Irish person owes 60,356 dollars. U.S.A with a population of 319.3 million residents is in the third place. The country’s debt is reaching 107.3% of its GDP and every American owes  58,604 dollars. Singapore which according to the World Bank,  provides the friendliest business environment and is one of the countries with the highest living standards is placed fourth. Singapore’s debt is equal to 106.2% of its GDP and each of the country’s 5.5 million residents owes $56,980.  Belgium is fifth on the list, with the country’s debt standing at 101.2% of its GDP, while every citizen owes 47,749 dollars. Italy comes sixth, with a debt equal to 133.1% of GDP, while every Italian owes 46,757 dollars. Greece is 12th on the list. The Greek debt is reaching 174% of the country’s GDP and every Greek owes 38,444 dollars to Greece’s foreign creditors. Finally, Germany, the European economic locomotive, is just two places below Greece, in the 14th place. Its debt is equal to 78% of the country’s GDP and every German owes 35,881 dollars.

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