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Page added on July 14, 2015
The Secret Bank Bailout
50 billion euros in Greece, 70 billion euros in Ireland, 40 billion euros in Spain – one Euro-country after another is forced to support its banks with huge sums of money in order to equalize the losses incurred by money worldwide from bad loans. But where do the billions go anyway? Who are the beneficiaries? With this simple question the award-winning business journalist and nonfiction author Harald Schumann travels across Europe and gets surprising answers.
The rescued are not in the poorer Euro states – unlike commonly believed – but mainly in Germany and France. A large part of the money ends up with the creditors of the banks that want to be saved or must be saved.
And although these investors have obviously made bad investments, they are – against all logic of the free market economy – protected at the expense of the general public against any losses. Why? Who gets the money? Actually, simple questions, but that regard the core of European identity. Maybe the most passionate film on the banking crisis.
We also recommend the second documentary about the Euro-crisis by Arpad Bondy and Harald Schumann, “The Trail of the Troika”. You can watch here on our channel: http://youtu.be/BLB3uu1IXM0
Director: Arpad Bondy
Script: Harald Schumann, Arpad Bondy
Camera: Axel Schneppat
First appeared at Global Research.
7 Comments on "The Secret Bank Bailout"
Makati1 on Tue, 14th Jul 2015 8:22 pm
Old news…
antaris on Tue, 14th Jul 2015 11:18 pm
Sounds like they are talking about China’s future.
joe on Wed, 15th Jul 2015 3:18 am
If people haven’t realised who is behind these bailouts and why then they are fools.
When a leader of a country publicly states ‘I do not believe in this deal but Im going to put it through because its the best deal I could get’ (Alexis Tsipras), then there is no integrity in the political system, one has to ask the real reason why they will push through a deal they KNOW will not work in 2/3 yrs time. The previous Greek finance minister said ‘I will wear their distain like a badge of honor’, those are the historic words.
The European elite plutocracy alsmost have everything they want, they can smell it. They don’t mind breaking Greece at this stage. One day they will take down European national flags, maybe even one day the Stars and Stripes, do not underestimate their ambition.
Davy on Wed, 15th Jul 2015 8:06 am
Come on Joe get a grip man. What is your alternative? European elite plutocracy or what? You just want to bitch moan and complain because you are angry. There are no alternatives to collapse in the current configuration. Greece has no alternative it is going down and the rest of Europe with it just at a later date.
The fact you are on a PC broadcasting your thoughts means you are relatively well off compared to the majority of the world population. Just wait until the European elite plutocracy is gone and with it globalism. We all are going to be hungry, cold, and insecure. Since you are relatively well off quit your constant bitching about class warfare and offer some solutions.
penury on Wed, 15th Jul 2015 11:53 am
“quit your constant bitching about class warfare and offer some solutions.” This is possibly the best advice possible, however if there were any solutions, the situation would be completely different. The predicaments that the people can sense closing in around them have ignited fear not felt in the last seventy years (U.S.)bitching while non-productive is sometimes very cathartic.
peakyeast on Wed, 15th Jul 2015 7:41 pm
“If people haven’t realised who is behind these bailouts and why then they are fools.”
Only the vast majority of people! Most people thinks it has something to do with tinfoil hats.
theedrich on Thu, 16th Jul 2015 4:37 am
Wonderful. Vultures at the helm of the world. How long until collapse comes?