It is common knowldge that Greece is crippled by debt, but how much debt is it actually in?
The Greek government’s monthly salary and pensions bill is between €1.4- €1.7bn
The total value of Greece’s debt is €330bn. But how much of that, is Greek (incurred) debt? And, how much of that €330bn is Troika incurred debt.
Greek debt was 130% of GDP. then the Troika imposed budgetary policies, killed jobs and dampened growth in the economy, which resulted in the shrinkage of Greece’s GDP. So the Troika increased Greek debt to 175% of GDP, and that figure will rise to 180% in the coming months.
Well, it’s comfy to find a culprit, isn’t it. The Greeks are blamed, while Troika and banking systems are exonerated.
So the Troika forces them to destroy their public services and hand over billions in assets to THE PRIVATE SECTOR.
Im imagining the lobbying and hand-rubbing among financiers and industry as they gather those assets into their portfolio —- perhaps one of the biggest heists in history.
Only a banker could be so cruel :
Indebt a nation, then say “we will let you breathe and eat if you sell your water and electricity to a private company. Oh, and here are some second hand tanks and defective submarines that you also must buy with the money we lend you.”
It would have been damm hard to have dreamt up something so back-handed and evil.
Austerity did not work for the Greek economy.
The Troika made basic economist related mistakes. The tools they had at their disposal should have (foreseen) and forecast the shrinkage of Greece’s GDP.
The Troika is responsible for increasing Greece’s debt to an unsustainable level.
Let the Troika to pay for Troika debt.