How Much does Bailout for Ireland and Greece Cost?

• 04.10.2015, 14:49
•  Europe,  World

European Central Bank estimated that Ireland’s bank bailouts cots the country the equivalent of 37.7% of its annual GDP. For every country in Eurozone the bailout cost is heterogeneous. Greece spends 24.8% of its GDP, Slovenia 14.2%. France Italy, Finland, Slovakia and Estonia spend almost nothing compared with Greece and Ireland, Irishexaminer reports.

On the other hand Germany spent more than one-tenth of its GDP to support others and Britain spent only 7%, which is less than Germany.

The only thing is that Greece and Ireland spent a third to half of the money to acquire assets that could potentially generate a return, the rest have been spent on bank recapitalizations and toxic assets. For Ireland this losses are equal to 25% of its GDP and for Greece 12.1% of its GDP.