WHEN EUROPE SAVES ITS BANKS, WHO PAYS?
50 billion euros in Greece, 70 billion in Ireland, 40 billion in Spain: within the euro zone, states were forced one after the other - for astronomical sums - to help the banks to compensate losses incurred as a result of bad loans. But who are the beneficiaries of such operations?
It is by asking this very simple question that Harald Schumann, economic essayist and brilliant journalist, crisscrosses Europe. And gets some startling answers to say the least. Because those who have been "saved" are not - as people tend to have us believe - in countries in distress, but above all in Germany and France. Indeed, a significant part of the released sums ends up in the creditors' coffers of these saved banks. As for the financiers who have made bad investments, they find themselves protected against any loss at the expense of the community. And this contrary to the rules of the market economy. Why ? Who collects the money?
(Germany, 2013, 58mn)
RBB Television
Date of first broadcast:
Mar., 25 June 2013, 23h48
Date (s) of rebroadcast:
Friday, 5 July 2013, 08h55
Themes: Geopolitics & History, Documentary, Society
To see another 5 days here: http://videos.arte.tv/fr/videos/quand-l ... 61076.html
Read also: https://www.econologie.com/forums/dette-publ ... t9654.html