Posted by: Dirk | October 5, 2013

The Greek bail-out: where did the money go?

Over the summer some numbers were published by ATTAC Austria, which are summarized on their website. Their conclusion:

At least 77,12% of the programme funds went directly (via bank recapitalisations) or indirectly (via repaying government debt) to the financial sector.

That should no surprise anyone, but it is nice to have some plausible numbers at hand. The next bail out will be coming soon, it seems. At least Wolfgang Schäuble, Germany’s finance minister hinted at that during the German election campaign, although he later said he didn’t mean it (German source).

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