Less than 10% of the money was used by the government for reforming its economy and safeguarding weaker members of society, while passing the debt from being owed to the private sector to the public sector. – The Guardian
The reason for the number of posts regarding Greece, is to demonstrate what happens when you let BANKS determine the fate of a country. Banks that themselves were bailed out to the tune of at least $ TRILLIONS are now demanding that the Greek people hand over EVERY single asset owned by the people to corporations – the world’s largest shipping port, the electricity, the water, trains.. everything.
And the debt the Greeks uncured, that currently stands at €320bn, less than 10% went to help Greece!
Since 2010, the IMF, European governments and the European Central Bank have lent €252 billion to Greece. Over the same period, €232.9 billion has been spent on debt payments, bailing out Greek banks and paying ‘sweeteners’ to speculators to get them to accept the 2012 debt restructuring. This means less than 10% of the money has been used for anything else.
In 2010, virtually all Greek government debt was owed to private entities such as banks. Today 78% is owed to the public sector, primarily people in other Eurozone countries, but also throughout the world through the IMF’s loans. – Jubilee Debt Campaign
So the ECB was able to bail out PRIVATE German and French banks that had been gambling with people’s money – doing predatory loans to Greece (the same strategy that lead to the 2008 crash in the United States) and when their loans started to look bad, the ECD forced a “bailout” to the tune of €252bn on Greece with only €30bn going to help Greece, the rest paying off the German & French banks so that they wouldn’t lose any money.
The ECB then made this new money owed to the PUBLIC of other EU countries, so that those countries could then gang up on Greece when Greece couldn’t make the payments.
This is the absolute destruction of democracy and it shows what happens when you let banks run the system