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Greece will spend 90 billion euros on repayments of principal and interest until 2020.
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Between 2020 and 2030, it will have to repay 201 billion.
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In sum, it is 291 billion euros in 15 years.
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That is 160% of its GDP.
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No country has ever repaid so much money for its debt in such a short time.
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If we look away and pretend that our debt is sustainable, that leads nowhere.
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This year we will have to repay approximately 22 billion euros, that is 27% of the budget.
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That is not sustainable, according to international standards.
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After that, we will have to repay about 16% of the budget until 2020.
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That is a very high number.
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For the period after 2021, things become horrendous.
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For example, in 2022, we will have to repay 33 billion euros.
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That is interest payments and principal.
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Yes, the debt itself does not go away.
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Therefore, we have to start this discussion.
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Our partners must realise that Greece's major problem is its extremely high debt.
