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Greek Bailout Money Went to Banks, Not Greece

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Roughly 90 percent of Greek bailout funds have gone to financial institutions – not to help Greek residents.

Greece needs a cash infusion $55 billion over the next 3 years to recover from its debt crisis and stabilize the economy, says the IMF.

But Greece already received $265 billion in bailouts in the last  5 years. Yet that massive injection of cash has done little to mitigate the suffering of the Greek people.

More than 1/4 of the workforce remains unemployed, food insecurity is on the rise, & financial analysts say the country’s public infrastructure is badly underfunded. In effect, Greek citizens are still waiting for a bailout.

So where did all that money from Greece’s first two rescue packages go? Back to creditors, mostly.

“This is a giant creditor-debtor standoff,” said Brown Univ. political economy professor Mark Blyth. “The creditors have been made whole.”

Read the rest of the story HERE:

At america.aljazeera.com

 

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Rob Kall is an award winning journalist, inventor, software architect, connector and visionary. His work and his writing have been featured in the New York Times, the Wall Street Journal, CNN, ABC, the HuffingtonPost, Success, Discover and other media. 

Check out his platform at RobKall.com

He is the author of The Bottom-up Revolution; Mastering the Emerging World of Connectivity  

He's given talks and workshops to Fortune 500 execs and national medical and psychological organizations, and pioneered first-of-their-kind conferences in Positive Psychology, Brain Science and Story. He hosts some of the world's smartest, most interesting and powerful people on his Bottom Up Radio Show, and founded and publishes one of the top Google- ranked progressive news and opinion sites, OpEdNews.com

more detailed bio: 

Rob Kall has spent his adult life as an awakener and empowerer-- first in the field of biofeedback, inventing products, developing software and a music recording label, MuPsych, within the company he founded in 1978-- Futurehealth, and founding, organizing and running 3 conferences: Winter Brain, on Neurofeedback and consciousness, Optimal Functioning and Positive Psychology (a pioneer in the field of Positive Psychology, first presenting workshops on it in 1985) and Storycon Summit Meeting on the Art Science and Application of Story-- each the first of their kind.  Then, when he found the process of raising people's consciousness and empowering them to take more control of their lives  one person at a time was too slow, he founded Opednews.com-- which has been the top search result on Google for the terms liberal news and progressive opinion for several years. Rob began his Bottom-up Radio show, broadcast on WNJC 1360 AM to Metro Philly, also available on iTunes, covering the transition of our culture, business and world from predominantly Top-down (hierarchical, centralized, authoritarian, patriarchal, big)  to bottom-up (egalitarian, local, interdependent, grassroots, archetypal feminine and small.) Recent long-term projects include a book, Bottom-up-- The Connection Revolution, debillionairizing the planet and the Psychopathy Defense and Optimization (more...)
 

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