VOODOO ECONOMICS: German ESMT Study – 5% of bailout money went to Greece’s state & people, 95% went to European banks

RIELPOLITIK

Source – keeptalkinggreece.com

– We have been knowing this and there have been reports in the past: that the majority of bailout money went  -and still goes- to banks and the lenders and not to the Greek state or people. The bailouts were supposed to get Greece back on its feet – only that Greece was forced to stand on lenders’ feet who claimed the money who gave to Greece right away and thus with juicy interest rates. What was obvious to anyone adding together the bailout tranche of the first now bailout loans, is now confirmed by a detailed study conducted by the Berlin-based European School of Management and Technology.

According to German economic news daily Handelsblatt that has obtained a copy of the study exclusively:

The aid programs were badly designed by Greece’s lenders, the European Central Bank, the Europe Union and the International Monetary Fund. Their priority, the report says…

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