Only a tiny 1.6% of the bailout loans goes to Greece’s state budget, the real economy and the people. The rest 98.4% goes to serve the international creditors International Monetary Fund, European Union member states and European Central Bank.
For the years 2010-20124, from the 236.8 billion euro bailout money and the 25.5 billion euro from privatizations, only 1.6 percent benefits the state and the economy.
98.4% is allocated for obligations to creditors. (source: Eleftherotypia; more details hopefully later)
I really do not understand, why any Greek should complain about it. A whole 3.77 billion euro go to Greece. For my father, for example, who spends the winter without heating and the summer without air-condition or fan because he cannot afford either the heating oil or the electricity bills after the cuts in pensions and helath care, the tax hikes and other austerity measures that make descent living impossible.
We are all proud to hand out the last slice of our bread to our creditors.
PS As the slogan claims: “The country is saved!” Not the people…
What i can´t understand,
why does the greeks not leave the EURO ?
Its unbelievable.
Greetings Ralph
Because Germany will be the biggest loser. They will lose a lot of the interest Greece pays back to them, and that is only based on the guranteed amount not the real cash amount.
Instead of Greece taking what is owed to them from the damages Germany caused to Greece in WWII.
Germany cleverly arranged it that Greece owes them money.
So there you go they won the war.
It is the one thing Greece will not be allowed to do. The whole financial “rescue” hinges on Greece staying where it is, and systematically getting fleeced so that those who are really being rescued can survive.
If Greece (or Ireland, Spain, Portugal, or any of the other members) leaves, the whole thing comes crashing down like a house of cards, and last one left standing is (rightfully!) left holding the parcel called “debt”. Three guesses (but no brownie points) who the last one left standing will be…
And anything will be done in order to keep the theft of people’s lives going, at any cost. Should anybody decide to leave, that may well result in boots marching and tanks rolling. Remeber the song,
“Hotel California, you can check out, but you can never leave…”?
Yes, but who is stopping Greece? How does the logistics of actually stopping them work? If for example, this rogue Syriza or GD party wins and do that, who could stop them? Would their be an armed invasion to keep them from going to drachamas? Again, how does the logistics of “not allowing Greece” work?
The logistics of “not allowing Greece” (or any of the others) works by controlling the purse strings, as it does everywhere else. The moment countries joined the EZ, they gave up the one thing that could help them determine their own future, being the ability to establish their own financial and fiscal future. Whoever signed that piece of paper signed away real sovereignty then. All the shouting about sovereignty now is simply posturing. For Greece, it was lost on January 1st 2001.
I would indeed not be surprised if an invasion of some kind would indeed happen should a future Greek government decided to do the right thing by it’s people. We are talking the God of Money here, and his servants don’t take prisoners. They either enslave and then kill, or just kill, nothing in between. History, old and recent tells us over and over again…
LOL!!! “Invasion of some kind”… What’s next? Little green men?
It isn’t as if there aren’t any precedents for such action. When smaller countries refuse to tow the line in the interest of the bigger ones, the latter tend to get cheesed off. When those who claim to have the right to tell others what to do get hit in their pocket, they get aggressive, very aggressive.
Any excuse will do, even false accusation of “weapons of mass destruction”. But then, an invasion does not necessaraly mean a military one either. to quote Thomas Jefferson:
and to stick with the same guy
Not too far from present day experience for the vast majority of individuals in the EU periphary, is it? That is the invasion we need to stop, and we need to realize it is in full swing!
Of the other kind of invasion, plenty of examples in past and recent history, none of which involve little green men. They know better than to come here:)