Candidate Trump Likens Greek Debt to U.S. Debt

1434493071676Presidential candidate and businessman Donald Trump said that Greece is “unsalvageable” and likened the Greek debt to the U.S. debt.

Announcing his Republican presidential candidacy from the Trump Tower in Manhattan, Trump spoke of the U.S. debt saying, “We’re at 18 trillion dollars now. We’re soon going to be at 20 trillion dollars. At 24 trillion, that’s the point of no return. We will be there soon. That’s when we become Greece! That’s when we become a country that’s unsalvageable.”

With the Greek sovereign debt currently at 313 billion euros (350 billion dollars) approximately, the leftist Greek government is locked in acrimonious negotiations over its bailout with the troika of international lenders, namely the International Monetary Fund, the European Commission and the European Central Bank. Greece is in desperate need of cash since state coffers are drained after lenders have stopped financial aid.

Trump’s personal wealth is just under 4 percent of Greece’s annual economic output, if that was expressed as a function of the country’s GDP. It stands at 9.240 billion dollars, with 500 million in liabilities. He boasted that a bank offered him a 4-billion-dollar loan because he doesn’t “have enough borrowings,” as he said.