The Bank of Greece informs us that 47% of Greek gold reserves are located within the Country. It is estimated that 56 tons of gold are stored in the basement of the Bank of Greece, in the main building on Panepistimiou Street.
The rest of the gold is divided between three parts. The Bank of England has 20%, the Federal Reserve Bank of New York has 29% and the rest 4% is in Switzerland.
This gold works as a Greek armor to meet national needs in an emergency. In 2017, according to the Bank of Greece, the stock of gold was 149.1 tonnes and reached 5,261.8 million euros. Of this total, 30.65 tons are in the International Monetary Fund, to cover the share of the foreign exchange mix. Rule for all member countries.
To erase its debt, Greece would have to liquidate more than 9,000 tons of gold, which corresponds to foreign reserves. Nowadays, Greek gold acquires special gravity due to the economic crisis and the question arises whether it should be repatriated.
Let's look at the countries with the largest gold reserves and the position of Greece in the World Official Gold Holdings list.
50) Bulgaria 40,3 Tons of Gold
49) Bolivia 42.5 Tons of Gold
48) Jordan 43.5 Tons of Gold
47) Belarus 46,4 tonnes of gold
46) Finland 49.1 Tonnes of gold
45) Argentina 56.1 Tons of Gold
44) Pakistan 64.5 Tons of Gold
43) Denmark 66,5 tonnes of gold
42) Brazil 67.2 Tons of Gold
41) Egypt 76.2 Tons of Gold
40) Kuwait 78.9 Tons of Gold
39) Australia 79.8 Tons of Gold
38) Indonesia 80,56 tonnes of gold
37) Iraq 89.8 Tons of Gold
36) Poland 102.9 Tons of Gold
35) BIS (Bank for International Settlements) - Bank of International Settlements
103.0 Gold Tons
34) Romania 103.7 Gold Tons
33) Korea 104.4 Gold Tons
32) Greece 112,9 Tonnes of Gold
31) Libya 116,6 gold tones
30) Mexico 120,5 tonnes of gold
29) South Africa 125.3 Tons of Gold
28) Sweden 125,7 tonnes of gold
27) Singapore 127.4 Tons of Gold
26) Thailand 152.4 Tons of Gold 2
5) Algeria 173.6 Gold Tons
24) Venezuela: 187.6 gold tones
23) Philippines: 196.4 gold tones
22) Belgium: 227,4 tonnes of gold
21) Austria: 280 Ton of Gold
20) Spain: 281,6 tonnes of gold
19) Lebanon: 286,8 gold tones
18) Kazakhstan: 289,3 tonnes of gold
17) United Kingdom: 310,3 tonnes of gold
16) Saudi Arabia: 322.9 gold tones
15) Portugal: 382,5 tonnes of gold
14) Taiwan: 423.6 Gold Tons
13) Turkey: 495.6 Tons of Gold
12) European Central Bank: 504,8 tonnes of gold
11) India: 557.8 Tons of Gold
10) Netherlands: 612,5 tonnes of gold
9) Japan: 765,2 tonnes of gold
8) Switzerland: 1,040 Tons of Gold
7) Russia: 1,778.9 Gold Tons
6) China: 1,842.6 Gold Tons
5) France: 2,435.9 Gold Tons
4) Italy: 2,451 tonnes of gold
3) International Monetary Fund: 2,814 Gold Tons
2) Germany: 3,373 Gold Tons
1) US: 8,133.5 Gold Tons
