German Study Proves It – 95% Of Greek “Bailout” Money Went To The Banks
Source Zero Hedge – Submitted by Mike Krieger via Liberty Blitzkrieg blog,
I simply cannot stress enough how important Greece is to freedom, liberty and civilization across the globe. Greece is not a one-off, or merely a small nation in big trouble that holds little relevance for the rest of us. Greece is everything.
What is happening to Greece follows the exact same game plan of what will eventually happen to every other supposedly sovereign nation. First there is an explosion of debt. Then a crisis. Then a bailout. Then creditor imposed hardship is forced upon the average population, in conjunction with unlimited bailouts for the bankers and other oligarch criminals.
Finally, when a public which mistakenly believes it is living in a democracy exercises its right to national sovereignty, the sad truth is exposed. They are not a people living under a free political system.
– From last year’s post: This is Sparta – 1,000 Bitcoin ATMs are Coming to Greece
A recent German study just confirmed what tens of millions of Greeks already knew. That they are a people fully conquered by criminal mega banks and the corrupt politicians and technocrats in their employ.
Get ready for another epic screw job this summer.
Some 95 percent of the 220 billion euros disbursed to Greece since the start of the financial crisis as loans from the bailout mechanism has been directed toward saving the European banks. That means about 210 billion euros was eventually channeled to the eurozone credit sector while just 5 percent ended up in state coffers, according to a study by the European School of Management and Technology (ESMT) in Berlin.
“Europe and the International Monetary Fund have in previous years mainly saved the banks and other private creditors,” concluded the report, published yesterday in German newspaper Handelsblatt. ESMT director Jorg Rocholl told the financial newspaper that “the bailout packages mainly saved the European banks.”
The economists who took part in the study have analyzed each loan separately to established where the money ended up, and concluded that just 9.7 billion euros – less than 5 percent – actually found its way into the Greek budget for the benefit of citizens.
“This is something that everyone suspected, but few people actually knew. That has now been confirmed by the study.
Read more: German Study Proves It – 95% Of Greek ‘Bailout’ Money Went To The Banks