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"The EFSF owns 45% of the government's 315bn Euro debt." You should go back in time, and read the "details". The debt was owned by german and french banks. Wha
by twobits 12y ago
"The EFSF owns 45% of the government's 315bn Euro debt."
You should go back in time, and read the "details". The debt was owned by german and french banks. What essentially happened is that those banks were bailed out with the money of all the european tax payers. (Greek, german, french, etc.)
- roymurdock 12y agoAny sources on this? I would be very interested in a detailed account of how the EFSF was used to nationalize private bank debt and spread it across the 17 member states of the EU. This would seem almost criminal in nature to me, but I wouldn't be surprised if it were true.