4 ms·

> " They protested when they had to pay it back" They protested when they couldn't pay it back. Furthermore, you do realise that the Greek bailout was just a

> " They protested when they had to pay it back" They protested when they couldn't pay it back. Furthermore, you do realise that the Greek bailout was just a bank bailout in disguise, right? http://www.dw.com/en/most-of-greek-bailout-money-went-to-banks-study/a-19234391 http://www.dw.com/en/most-of-greek-bailout-money-went-to-ban... "Since the Greek debt crisis began in 2010, the southern European country has received two bailouts from international creditors and is currently on its third. During the first two "adjustment programs," as they're known in bureaucratic parlance, Athens received some 216 billion euros. Of that amount, the ESMT's study found that 86.9 billion went toward debt repayments, including 9.1 billion in repayments to the International Monetary Fund (IMF), 52.3 billion was spent on interest payments, 37.3 billion was used for bank recapitalization and 29.7 billion was doled out to provide incentives for investors to get involved in the private sector. Only 9.7 billion euros, according to ESMT, was directly contributed to Greece's fiscal budget or to kickstart the Greek economy."

lispm 10y ago
> They protested when they couldn't pay it back. What I said, they didn't protest when Greece took that money. That the money given to them was for paying back the debt of Greece against banks is nothing new. The problem of Greece at that time was not to 'kickstart the Greek economy'. They needed money to survive the weeks and days.
- ZenoArrow 10y ago
  How exactly was it 'needed money to survive the weeks and days' when the vast majority of it went to foreign banks?
  - lispm 10y ago
    Huge debt, huge deficits, No access to money neither from other European countries nor from the private sector, collapse of the Greece banking sector, collapse of Greece economy, exit from the Euro, ... I doubt Greece wanted to go that route, once it was clear to them what was about to happen. Actually the left wing government had to learn it quickly that semli-democratic decisions about other people's money is worthless, when one needs even more money. And they did.

lispm 10y ago

> They protested when they couldn't pay it back. What I said, they didn't protest when Greece took that money. That the money given to them was for paying back the debt of Greece against banks is nothing new. The problem of Greece at that time was not to 'kickstart the Greek economy'. They needed money to survive the weeks and days.

ZenoArrow 10y ago
How exactly was it 'needed money to survive the weeks and days' when the vast majority of it went to foreign banks?
- lispm 10y ago
  Huge debt, huge deficits, No access to money neither from other European countries nor from the private sector, collapse of the Greece banking sector, collapse of Greece economy, exit from the Euro, ... I doubt Greece wanted to go that route, once it was clear to them what was about to happen. Actually the left wing government had to learn it quickly that semli-democratic decisions about other people's money is worthless, when one needs even more money. And they did.