Fact check: Does Europe Greece save - or only the banks?

With many Germans the judgement is clear over the Greeks: They would have lived for many years over their conditions and all kinds of social blessings would have afforded, without drawing in the appropriate taxes. The mixture from corruption and wasting could go in the long term not well, is called it in this country. At their economic misery they from there are debt.

The fact that the Greek government revolts now against the agreed upon savings editions is seen as indication of the ingratitude. But many Greeks do not see the benefits of shortened pensions and dismissed state employees. While unemployment sinks in Europe again (on the average on eleven percent), amounts to it in Greece further 26 percent, that is the highest level within the euro zone.

We cannot untangle the many aspects of the Greece crisis here, but we can brush the problem on the basis an example one-time against the German line. The Greek Minister of Finance Giannis Varoufakis compares the Troika cure with “CIA torture”, the enforcement of the savings editions with a “fiscal Waterboarding”. Understandably infuriates in Germany, and we hold out to it, Greece become not with water shower, but with money.

Quite Athens-critical “Handelsblatt” judged “the true reasons of the Greek tragedy” once similarly: In the long run national rescue operations meant for the financial sector that the risks, which dozed in the balances of the private banks were accepted by the state.

The result: From to in the middle of 2013 to Greece flowed the scarcely 207 billion euros well 77 percent (58.2 billion for bank recapitalizing) or indirectly (101.3 billion for creditors of the Greek state) to the financial sector flowed directly. For the national budget remained from the rescue programs less than a quarter.