Pratap Chatterjee — EuroZone Profiteers: How German and French Banks Helped Bankrupt Greece

Joseph Stiglitz, former chief economist of the World Bank and a Nobel Prize winner in economics, wrote in the Guardian newspaper today. “It has gone to pay out private-sector creditors – including German and French banks.” 

A recent CorpWatch report - The EuroZone Profiteers - can help shed further light on this matter. While it’s true that corrupt Greek politicians borrowed billions for shaky government schemes from these banks, there was a very good reason that the financiers made these rash loans: they were under pressure from European Union bureaucrats to compete in a global marketplace with U.K. and U.S. banks....

CorpWatch EuroZone Profiteers: How German and French Banks Helped Bankrupt Greece Pratap Chatterjee, CorpWatch Blog