Crisis hit Greece holds 3.76 million ounces of Gold
Analysts said mountains and forests of northern Greece could hold more than $26 billion in gold just waiting to be mined, a treasure trove that could help solve the country's economic crisis.
Crisis hit Greece holds 3.76 million ounces of gold worth 4.74 billion euros.
Greek finance minister Yannis Stournaras said half of it was stored at the Bank of Greece and the rest at the Federal Reserve Bank of New York, the Bank of England and in Switzerland.
Greece is suffering from the wrenching pain of a long economic crisis as three years of spiraling economic crisis in Greece have devastated every sector of the economy.
Gold is very important to Greece at the moment as the country is estimated to have sitting under huge piles of gold.
Analysts said mountains and forests of northern Greece could hold more than $26 billion in gold just waiting to be mined, a treasure trove that could help solve the country's economic crisis.
Since the world economic crisis of 2008, the Greek economy has contracted by 20 percent, driving up unemployment to 23 percent, a rate comparable to U.S. unemployment at the peak of the Great Depression in 1932.
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