Greece's foreign debt has risen to 300 billion euros ($441 billion), or about 125% of national GDP, Deputy Finance Minister Filippos Sahinidis said on Thursday.
"The country's debt has reached 300 billion euros, which is the highest in the country's modern history," Sahinidis told parliament.
Greece's economy has suffered more than most other EU states since the onset of the financial crisis last year, with a soaring rising budget deficit. The previous government was widely criticized for failure to take measures to stabilize the economy.
At the early parliamentary elections in October, the ruling New Democracy party suffered a crushing defeat. Its main rival, PASOK (Panhellenic Socialist Movement), led by former foreign minister George Papandreou, which won a majority of seats in the legislature, approved an anti-crisis program to steer the country away from a potential default on its obligations.
Papandreou, who was sworn in as the country's prime minister on October 6, said last Friday there was no danger of a sovereign default.
International rating agency Fitch this week downgraded Greece's credit rating to BBB+ from A- with a negative outlook. Another rating agency, Standard & Poor's warned that it might lower Greece's sovereign rating over possible debt servicing problems.
ATHENS, December 10 (RIA Novosti)
