Feckless German banks lent Greece money. It was their risk, they should have been burnt were the debt to be impossible to repay.
In 2010, Greece was bankrupt. There was no way it could repay the debt. The debt should have been written off. Instead more money was lent to Greece, the money used to pay off the German banks. A truth Germans should pay heed to.
The debt was used to impose conditions on Greece, austerity. Austerity has seen the Greek economy shrink by 25%, unemployment rise.
Greece put reasonable conditions on the table. These conditions were rejected.
Syriza sought the backing of the Greek people, a referendum was called. Greeks overwhelmingly rejected austerity.
Th Fourth Reich was not best pleased. ECB had turned off the cash flow to the Greek banks in an attempt to intimidate and destroy the Greek economy. Alexis Tsipras was given a choice, unconditional surrender, suicide or execution. It was nothing short of a coup by the Fourth Reich. Even worse conditions to be imposed on Greece.
- OXI Greeks vote for democracy and hope and end to austerity
- OXI the morning after the night before
- Occupation of Greece by the Fourth Reich
- This Is A Coup
- Varoufakis: Why I voted NO
- Varoufakis: “Why I Voted ‘YES’ Tonight”