The Greeks have over the past years for a total of 228 billion euros of loans received, in particular the other euro area countries. That have two emergency funds in the life called, which borrow money on the capital markets. Itself can the Greeks not by the poor financial situation of their country.
The variable interest rate that the funds pay on their debt is passed on to Greece. The government in Athens fear that the cost of borrowing is the pan going to rise as the interest rate rises again. Therefore, insists they are now the interest rates are still extremely low and is on fixed rates. That should help the debt more bearable.
The International Monetary Fund (IMF) earlier this year, for the Greeks with a fixed, low interest rate, to help their levels of debt down to a sustainable level. The IMF got the hands, however, not on each other, because the euro zone itself would need to be running for any losses from the emergency funds.
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