How Much Does Greece Owe From the First and Second Bailouts? PASOK’s Internal Struggles Amid Political Challenges

A political controversy arose following Prime Minister Kyriakos Mitsotakis’s announcement of permanent support measures, including €250 for low-income pensioners, AMEA recipients, and others, as well as an annual housing allowance up to €800 in November. The opposition criticized these moves as ‘placebos,’ ‘mockery,’ and ‘meager announcements.’ The main question was why the government, with a surplus of €11.4 billion for 2024, only allocated €1.1 billion for these measures. Government spokesperson Pavlos Marinakis clarified that out of €11.4 billion, loan obligations are paid first, leaving €3.1 billion available under EU spending caps. Greece owes approximately €34.55 billion from the first bailout loan (Greek Loan Facility – GLF) to Eurozone countries and €90 billion plus €25 billion in interest from the second bailout through the European Financial Stability Facility (EFSF). Meanwhile, former ministers Anna Diamantopoulou and Paul Geroulanos met with Thessaloniki Mayor Stelios Angeloudis amid discussions about PASOK’s future leadership. Despite rumors of alliances, the gathering was described as coincidental during Easter celebrations. Nikos Androulakis, PASOK’s president, aims to restart the party with a focus on expansion but faces internal divisions. Tensions also exist between former minister Leandros Augenakis and current ministers Olga Kefalogianni and Giannis Vroutsis over accessibility and regional issues.