Τρόικα : Ανεξέλεγκτη εξουσία

Documentary film at franco-german channel ARTE. Watch in german or french (choose under “version”)

Διαβάστε κάποια στοιχεία από το περιεχόμενο που αφορούν την Ελλάδα (στα ελληνικά) εδώ.

Spain : the police ends the party of Dignity

(espagnol / english / italiano) + Video


22 de marzo – noche

Mucho antes de que terminase el plazo comprometido por Delegación de Gobierno y, mientras el coro de La Solfónica actuaba en el escenario de la Plaza de Colón, la policía ha irrumpido con una violencia inusitada para terminar con la demostración de DIGNIDAD de cientos de miles de personas llegadas de todo el estado y de los barrios y pueblos de Madrid.Una vez más, ha quedado demostrada la desconexión entre gobierno y ciudadanía y la violación, ya habitual, de los derechos fundamentales de reunión o manifestación. Se constata también, la falta de respeto a la ciudadanía que, con los permisos pertinentes, celebraba un acto pacíficamente.english (more…)

Who profits from the bailouts

(Reuters) – Throughout Europe’s debt crisis, northern European leaders have often said they will not stand for taxpayers having to fork out for other countries’ problems, and the notion of “taxpayer-funded bailouts” has taken root.


Yet despite three-and-a-half years of debt and banking turmoil, with bailouts totaling more than 400 billion euros, northern euro zone taxpayers have not actually lost a cent.

What is more, governments in Germany, Finland, Austria, the Netherlands and France have saved billions of euros thanks to a sharp fall in how much they pay to raise money in financial markets since their borrowing costs have dropped steeply.

But that has not prevented the image taking root in voters’ minds of hard working northern Europeans putting money on the line to rescue profligate, work-shy southerners, fuelling resentment and undermining Europe’s unity.

In the run up to German elections in September, that resentment is only likely to grow, and Chancellor Angela Merkel, bidding for a third term in office, will have to reaffirm her commitment to protect voters from potential losses.

But the truth remains that German taxpayers, as well as those in Finland, the Netherlands and elsewhere, are no worse off at all, and their finance ministries have racked up savings.

“As an unintentional consequence of the crisis, Finland has benefited enormously,” said Martti Salmi, the head of international and EU affairs at Finland’s ministry of finance.

“We have not lost a cent so far,” he told Reuters. “The same as for Germany very much holds for Finland.” (more…)

Greece and Spain helped postwar Germany recover. Spot the difference

Sixty years ago, half of German war debts were cancelled to build its economy. Yet today, debt is destroying those creditors

Exchanging Food for Circus Tickets

People exchanging food for tickets in 1923 Germany. ‘Many, including Keynes, argued that [reparations imposed on Germany following the Versailles treaty] led to the rise of the Nazis and the second world war.’ Photograph: Keystone/Corbis

Sixty years ago today, an agreement was reached in London to cancel half of postwar Germany’s debt. That cancellation, and the way it was done, was vital to the reconstruction of Europe from war. It stands in marked contrast to the suffering being inflicted on European people today in the name of debt. Germany emerged from the second world war still owing debt that originated with the first world war: the reparations imposed on the country following the Versailles peace conference in 1919. Many, including John Maynard Keynes, argued that these unpayable debts and the economic policies they entailed led to the rise of the Nazis and the second world war.

By 1953, Germany also had debts based on reconstruction loans made immediately after the end of the second world war. Germany’s creditors included Greece and Spain, Pakistan and Egypt, as well as the US, UK and France.

German debts were well below the levels seen in Greece, Ireland, Portugal and Spain today, making up around a quarter of national income. But even at this level, there was serious concern that debt payments would use up precious foreign currency earnings and endanger reconstruction.

Needing a strong West Germany as a bulwark against communism, the country’s creditors came together in London and showed that they understood how you help a country that you want to recover from devastation. It showed they also understood that debt can never be seen as the responsibility of the debtor alone. Countries such as Greece willingly took part in a deal to help create a stable and prosperous western Europe, despite the war crimes that German occupiers had inflicted just a few years before. (more…)