Perhaps this is why all the economies are finished. They are all based on unrepayable debts, unsustainable growths and consumerism of unnecessary, unproductive, unhealthy products.
“That is to say, it already knew back then that the bailout executed in 2010 would push Greece even further into debt. Which is the exact opposite of what the bailout was supposed to do.”
Debt cannot be resolved by borrowing more money. Unless a substantive, complete restructuring of sovereign country economies takes place, this is a one-way street, with a foreseeable end-result of authoritarian control and subservience. (Revised 12:37 5th July 2015)
The IMF Debt Sustainability Analysis report on Greece that came out this week has caused a big stir. We now know that the Fund’s analysts confirm what Syriza has been saying ever since they came to power 5 months ago: Greece needs debt relief, lots of it, and fast.
We also know that Europe tried to silence the report. But what’s most interesting is that this has been going on for months, as per Reuters. Ergo, the IMF has known about the -preliminary- analysis for months, and kept silent, while at the same time ‘negotiating’ with Greece on austerity and bailouts.
And if you dig a bit deeper still, there’s no avoiding the fact that the IMF hasn’t merely known this for months, it’s known it for years. The Greek Parliamentary Debt Committee reported three weeks ago that it…
View original post 57 more words