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...explained quite simply by our furry felines.
The human arm of course is the Troika.......the European Commission...The European Central Bank (ECB) and the IMF....
The lovely if somewhat sad cat is Greece.. of course.....
..and the sneaky opportunist paw......yes.....the Troika...
https://twitter.com/alepouda/status/614451083004485634/photo/1
The Troika bailout money Greece has received.....almost 230 billion euros....has not gone to keep the Greek state afloat...... only around 11 to 15 % has actually gone to the Greeks for the running of the state....
The Troika bailout money is not bailing out the Greeks...it is bailing out the Troika and the institutions they represent.
And of course... it is the Troika who started the whole gravy train running in the first place as a consequence of their misguided attempts to fit one currency to countries who have such disparate economies.
The human arm of course is the Troika.......the European Commission...The European Central Bank (ECB) and the IMF....
The lovely if somewhat sad cat is Greece.. of course.....
..and the sneaky opportunist paw......yes.....the Troika...
https://twitter.com/alepouda/status/614451083004485634/photo/1
The Troika bailout money Greece has received.....almost 230 billion euros....has not gone to keep the Greek state afloat...... only around 11 to 15 % has actually gone to the Greeks for the running of the state....
The Troika bailout money is not bailing out the Greeks...it is bailing out the Troika and the institutions they represent.
And of course... it is the Troika who started the whole gravy train running in the first place as a consequence of their misguided attempts to fit one currency to countries who have such disparate economies.
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www.bloomberg.com/news/videos/2015-07-02/varoufakis-says-he-will-quit-if-greeks-vote-yes- |
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It wouldnt have been much of a bailout if it was just given to the Greeks to spend on public services.
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...and a rather more in depth explanation if anyone is interested...."Where did all the money go?"
http://www.macropolis.gr/?i=portal.en.the-agora.2080 |
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...it wasn't much of a bailout per se dotchinite.....
..not when since the it started Greece economy has shrunk by at least 25% in 4 years... the troika have been bailing there themselves and their institutions out whichever we it is dressed up. |
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Well apart from the fact that they are the ones owed hundreds of billions by the Greeks that will never be recovered.
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Still had Europe's highest per hectare agricultural subsidies until last month.
And likely to have problems keeping people fed next winter, because they don't produce enough of things people want. Only subsidies can bugger a market so completely. |
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...you are probably right...much of it will never be recovered...
...but then perhaps much of it should never have been lent in the first place. And perhaps the only reason it was lent...and kept being lent... was that those doing the lending came to the conclusion that because Greece was in the Euro...that Germany would be underwriting the debts and that no matter how reckless to lend economically....the politics of Euroland would back up the loans. Exposes the whole artificial edifice for what it is. |
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The IMF 2012:
. http://www.imf.org/external/pubs/ft/survey/so/2012/car031512b.htm "60 percent of all family benefits go to the 40 percent with the highest incomes" Vanity Fair 2010 . http://www.vanityfair.com/news/2010/10/greeks-bearing-bonds-201010 Only dog eat dog socialism can achieve this. |
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bongo you keep implying that the free market is the only way and anything else is doomed to fail.
But there is no proof that this is the case, the only way a true free market would work is if we can get down to living off less than a dollar a day. And we both know we can’t. Free market globalization will provide riches but not for likes of you and I. It only serves the mega rich. |
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If housing costs come down to 30cents a day, I'll take that dollar.
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