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asiliveandbreathe

(8,203 posts)
3. Been reading up on all this - commentary from Stiglitz
Mon Jun 29, 2015, 11:26 PM
Jun 2015

at the Guardian....

We should be clear: almost none of the huge amount of money loaned to Greece has actually gone there.

It has gone to pay out private-sector creditors – including German and French banks. Greece has gotten but a pittance, but it has paid a high price to preserve these countries’ banking systems.

The IMF and the other “official” creditors do not need the money that is being demanded. Under a business-as-usual scenario, the money received would most likely just be lent out again to Greece.

Greece - just say OXI!

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