The Greek bailout wasn't a bailout of Greece, it was bailout of the German and French banks… The losses of Greek and French banks were socialised onto the Gree

The Greek bailout wasn't a bailout of Greece, it was bailout of the German and French banks… The losses of Greek and French banks were socialised onto the Greek state by the terms of the bailout so the Greek people suffered rather than people who'd invested in the bank losing. Now Greece did over borrow but when banks lend they take a risk and sometimes that risk doesn't pay off.