![]() ���We���re not happy at the impact we���re making with this one,��� he said. The latest plan is for yet another replacement, involving a larger scale signboard. ���When it became clear what was going to happen, our first thought was to free up the digital square occupied by the dollar sign so that we could cope with a 14th digit,��� Mr Durst said. Instead the debt continued to rise at such a rate that the once unthinkable total of $10 trillion veered from alarmist fantasy into the realm of impending reality. In ���04, the old clock was torn down and replaced with a newer model which had been modified to run backwards should such a happy necessity arise. The curtain was raised in ���02 and the digital readout flickered back to life showing a national debt of $6.1 trillion with the numerals whizzing round faster than ever. He only had to wait two years as the Bush presidency coincided with an upsurge in borrowing. ���We���ll have it ready in case things start turning around, which I���m sure they will,��� Durst said at the time. Still, since its future participation in the European Union is in limbo as of now, these figures can only be estimates, not predictions.The clock was covered with a red, white and blue curtain, but not dismantled. However, Greece's financial situation might improve in the future, as it is estimated that at least its national debt will decrease - slowly, but steadily. Roosevelt, Woodrow Wilson, Ronald Reagan, George W. Investors, consumers and workers alike are struggling to see a bright future in Greece, whose chances of an economic comeback are much lower than that of other struggling countries such as Portugal and Italy. Five presidents who contributed the most, percentage-wise, to the national debt are Franklin D. Large sums of financial aid were taken from major European banks to help balance out these government-induced failures and to potentially help refuel the economy to encourage more spending, which in turn would decrease the country’s continuously rising unemployment rate. The nation’s continuous rise in debt has overwhelmed its estimated GDP over the years, which can be attributed to poor government execution and unnecessary spending. Interest costs on the national debt will reach 3.2 of GDP by 2030. ![]() The National Debt Could Nearly Double in Size Over the Next 30 Years. National debt within the country saw significant gains over the past decades, however roughly came to a halt due to financial rescue packages issued from the European Union in order to help Greece maintain and improve their economical situation. The rising national debt threatens economic growth and opportunities for future generations. After going through a large economic boom from the 1950s to the 1970s as well as somewhat high GDP growth in the early to mid 2000s, Greece’s economy took a turn for the worse and struggled intensively, primarily due to the Great Recession, the Euro crisis as well as its own debt crisis. Greece is a developed country in the EU and is highly dependent on its service sector as well as its tourism sector in order to gain profits. Greece's struggle after the financial crisis In a ranking of debt to GDP per country, Greece is currently ranked third. ![]() In 2021, the national debt in Greece was around 401.71 billion U.S. This statistic shows the national debt of Greece from 2018 to 2021, with projections until 2028. ![]()
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