Greece and other weak EU countries were victims of predatory lending too – mainly by bankers in Germany and France.
Like their still unindicted counterparts at America’s too-big-to-fail banks, the banksters responsible got bailed out — in this case, by the IMF (the International Monetary Fund) and the European Central Bank.Those institutions, along with the European Commission, are now leading the charge against the Greek people. Predictably, they blame the Greeks for their profligacy, while, as in the United States, the real criminals go free, their hypocrisy unacknowledged, their self-righteousness intact.
Another scenario was possible: the Greek people could have been bailed out too; better yet, they could have been bailed out instead. But “the institutions” wouldn’t hear of it.