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Greece: Where Did The Money Go?

This is a syndicated repost published with the permission of Confounded Interest - Online Course Notes For Financial Markets. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

Like the old folk song, “Where Has All The Money Gone,” , Greece has allocated just 11 percent of the total funding, or circa 27 billion euros” to operating costs. All the rest want for interest, etc. to creditors.

Greek bailout uses 2_0

Only 11% of IMF, etc., funding got back to operating Greece? I see, borrowing to pay creditors.

“Can I borrow billions just to pay the interest on what we already owe?”

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