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by chrisbennet 3994 days ago
Almost all of it was used for dept payments I believe.

Alas, this sort of thing (protect the interests of capital) is pretty normal. In the US, bankers got a bailout and homeowners lost their homes for example.

1 comments

Of the bailout money, yes. But bear in mind that the bailout money (at least the initial tranche) was to take on debt that had already been spent. It most definitely is not that case that that money was spent on debt re-payments.

It's fair to say that a lot of subsequent additional money was primarily used to cover debt re-payments but that's because the original debt was so large (relative to the Greek economy).