Greek government debt

Greek government debt refers to the total amount of money the Greek government owes to lenders, including other countries, banks, and investors. It results from borrowing funds to finance public services, infrastructure, and economic activities when tax revenues are insufficient. Debt is expressed as a percentage of Greece’s economic output (GDP). High debt levels can pose challenges, such as increased borrowing costs and the need for austerity measures, but manageable debt supports government functions. Greece's debt crisis in the early 2010s was marked by severe financial hardship and international bailouts to stabilize its economy.