95% of the 220 billion "aid" to Greece was used to bail out the BANKS

It is a German report, from the European School of Management and Technology in Berlin (ESMT), which affirms it: of the 220 billion euros of the aid plan for Greece, 210 billion were used to bail out the country's banks. Article ofekahimerini.com, published on May 4, 2016:

“About 95% of the 220 billion euros disbursed to Greece since the start of the financial crisis in the form of loans under the bailout mechanism have been used to bail out European banks. This means that around 210 billion euros have landed in the accounts of the European banking sector while only 5% have filled the coffers of the State, according to a study by the European School of Management and Technology (ESMT ) from Berlin.

« Europe and the IMF have in recent years rescued banks and other private creditors concludes the report, published yesterday in the German newspaper Handelsblatt. ESMT director Jorg Rocholl told the German financial newspaper that " bailouts mainly saved European banks ».

The study by this business school determined that 86,9 billion euros were used to repay old debts, 52,3 billion for interest payments and 37,3 billion for the recapitalization of Greek banks.

« Everyone suspected it, but few people knew it. This is now confirmed by this study: for 6 years, Europe tried in vain to put an end to the Greek crisis via loans while demanding ever tougher measures and reforms. The causes of the failure clearly lay less with the Greek government than with the planning of the rescue plans, concludes the German daily. »