Bad Faith. Why Real Debt Relief Is Not On The Table For Greece » James K Galbraith – Social Europe

This is a truly remarkable, must-read article from James Galbraith and published in Social Europe. The article targets the real villains and they don’t live in Greece!

Bad Faith. Why Real Debt Relief Is Not On The Table For Greece » Social Europe.

Galbraith focuses on unscrupulous people in Paris, Berlin, Brussels, and New York (at the IMF). It seems that France has the most to hide.

If you agree with the thrust of this article, French and German banks have been secretly bailed out at tax-payers expense, and Greece has been held accountable.

Of course, there were errors made in Greece and the Greek political classes were corrupt but the damage caused to ordinary Greek peoples’ lives makes this an evil conspiracy against Greece. So perhaps, the current  Syriza  Greek government are right to be angry?


One response

  1. Whilst this narrative from Dr Alf via James K Galbraith of malevolent French and German banks and people at the IMF being the culprits I cannot simply absolve Greece and its Government of culpability.

    The UK and America and every country in Europe bailed out the banks and those who controlled them 3 times yet in the UK not a single banker went to prison and none of the money laundered through hedge funds and secreted in up to 40 different tax havens has been recovered.

    America is still trillions of dollars in debt yet not one penny of the $400 billion which disappeared when Lehman Brothers collapsed has been recovered from the undisclosed location where it went to in Israel.

    The world’s super rich doubled their money before the LIBOR rate rigging scandal during the period between it and the original banking crisis but everyone else took a substantial and painful “haircut” as a direct result of this “controlled demolition” of the world financial system perpetrated by criminals at the upper end of the “food chain”.

    The rest of us could engage in the blame game,riots and civil commotion just like the Greeks but we take our medicine with a sense of weary resignation and profound irritation with the authorities,the banks and now the Greeks with their special pleading and whining self justification.

    The criminals are still in position seemingly untouchable and able to do what they like and short of divine intervention and the actions of an Icelandic style Superbailiff aided by forensic accounts,computer hackers,international lawyers and recovery experts our money is permanently stolen.

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