Author Topic: Where's the money gone?  (Read 105 times)

0 Members and 1 Guest are viewing this topic.

Offline Maik

  • Administrator
  • Forum Deity
  • *****
  • Posts: 11959
Where's the money gone?
« on: Tuesday, 24 October, 2017 @ 13:33:26 »
Quote
What happened to the €8 billion Europe took from Greece?

In 2012 with Greece on the verge of bankruptcy, fellow Eurozone states rallied round to rescue one of their own.

Part of the bailout package they agreed was to use almost 27 billion euros to buy up Greek debt to prevent a vicious circle that would see the country facing more and more expensive borrowing costs.

At the time, the countries agreed that they should not profit from this action and that the interest paid to them by Athens linked to the bonds they had bought should be returned.

To this day, that interest amounts to almost €8 billion (More precisely €7,838,000,000, according to an email sent by EU finance commissioner Pierre Muscovici to MEPs). Some of this money has been sent back to Greece but much of it remains in the hands of other European countries.

And they seem determined not to reveal how much.
http://www.euronews.com/2017/10/23/what-happened-to-the-8-billion-europe-took-from-greece