Dijsselbloem

RT on the Dijsselbloem claim

Λεωνίδας Χρυσανθόπουλος : Να παραιτηθεί ο Ντάισελμπλουμ. Στην Ελλάδα παραβιάζονται τα ανθρώπινα δικαιώματα.

με ελληνικούς υπότιτλους

 

The Defeat of Europe : Varoufakis’ article in “Le Monde Diplomatique”

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  1. The trouble with Greece

In 2010 the Greek state lost the capacity to service its debt. Put simply, it became insolvent and, thus, lost access to capital markets.

To prevent a default on fragile French and German banks, that had irresponsibly lent billions to irresponsible Greek governments, Europe decided to grant Greece the largest loan in world history on condition of the largest ever magnitude of fiscal consolidation (also known as austerity) which, naturally, resulted in a world record loss of national income – the greatest since the Great Depression. And so began a vicious cycle of austerity-driven debt-deflation, spearheading a humanitarian crisis and a complete inability to repay the nation’s debts.

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