Greece's debt = 1/2 Google's revenue
Stock markets reeled last week—even leaving aside the mysterious 13-minute swing on Thursday which investigators are still trying to figure out—partly on the chance that Greece will be unable to meet its loan payments. Germany came to the rescue yesterday, but we’re not entirely out of the woods.
For all the stress and fear of contagion and plunging markets and blah blah blah, I think it’s worth putting this “crisis” into perspective:
On May 19, Greece will need about $12 billion.
I don’t point this out to say that Google is too big or too profitable. But for heaven’s sake: For half of what Google pulls in in a year, Greece can meet its first big debt payment?
Correct me if I’m wrong, but when two guys in their 30’s can solve a problem by whipping out their checkbooks, it doesn’t strike me as a situation that’s going to cause a global financial meltdown.
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