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Saturday, February 7, 2015

Stop squeezing Syriza. We can’t afford another wrong turn in Europe | Sony Kapoor | Comment is free | The Guardian

Stop squeezing Syriza. We can’t afford another wrong turn in Europe | Sony Kapoor | Comment is free | The Guardian

While the unsustainability of Greek debt was recognised by many, intensive lobbying by German and French banks which owned large amounts of Greek bonds meant that the much-needed restructuring of this debt was vetoed. An ill-designed programme was imposed as condition of financial aid to Greece. This was essentially a bailout of European banks at the expense of Greek citizens and European taxpayers.

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