/ world today news/ The real costs of the EU to save Greece from bankruptcy turned out to be twice as high as the official ones, writes Bild, referring to the words of the Greek economist Georg Vamvoukas. According to the scientist, if we take into account the funds spent to save the Greek banks, it turns out that the EU spent more than 600 billion euros, of which 170 billion euros fell to the Federal Republic of Germany.
Among the most hated Germans in Greece, Angela Merkel, who arrived in Athens on Thursday, ranks third after Wolfgang Schäuble and Adolf Hitler, writes Bild. It was during the years of Merkel’s rule that the financial and migration crises fell: both started in Greece.
As the newspaper notes, in Greece Merkel is still considered responsible for the financial crisis of 2009. Meanwhile, the EU helped Athens escape bankruptcy by providing Greece with three financial aid packages, Bild recalls.
The official costs of the EU for the rescue of Greece amount to 278 billion euros, the newspaper said. Of these, 80 billion were granted by Germany. At the same time, the Greek economist Georg Vamvoukas names an even more impressive figure: 600 billion euros in total spending, of which 170 billion euros are for Germany. According to Vamvoukas, these figures are the result of the fact that he included in his calculations the funds granted to save the Greek banks.
The economist also notes the lack of progress, despite financial injections: in 2009, Greece’s national debt amounted to 125.6% of the country’s GDP, and in 2021 it rose to 222.3% of GDP.
At the same time, Vamvoukas emphasizes that the EU aid was not in vain after all: it gave Greece time and protected the savings of Greek citizens. According to Vamvoukas, the reason for the increase in the national debt is that the necessary lessons from the financial crisis of 2009 have not been learned: the reform of the Greek economy has not taken place. In addition, the coronavirus pandemic also had a negative impact.
Translation: ES
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