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'Obama bailed out Greece for profit'
 [Iran Press TV] An economist says the US bailed out Greece to make sure that the European country could pay the profits of foreign banks.Greece's debts are in excess of 300 billion euros, and the country has a budget deficit of 13 percent. Only in this year alone, it is spending 13 billion euros on the interests of its debts. That is more than it is spending on its justice system, education and police services combined. In a bid to tackle the economic crisis, the government is cutting wages, and slashing benefits, while unemployment is on the rise. "This happens because government wants money to pay to foreign banks. Greek debts belong to French and German banks like Deutsche Bank and Societe Generale, etc.," journalist and economist Leonidis Vatikiotis told Press TV. In May, the European Union and the International Monetary Fund paid a 110-billion euro bailout to Greece, with US President Barack B.O.Obama calling EU heads of state to demand the bailout. The fact that Obama, who speaks in the name of all the banks who had lent money to Greece over the years, demanded the bailout "shows they wanted their money back. Because they wanted their money back, they bailed out Greece in the name of this profit," Vatikiotis said. The country's economic policies have caused a wave of general strikes and demonstrations this year. Posted by: Fred 2010-10-29 |
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