And This Is What Greece Spends Its Bailout Money On

We announced previously that as a result of the second "bailout" Greece would not see one penny, as it itself would be required to fund the creditor escrow package, in essence meaning that the flow of funds would from Greece to Europe. Yet somehow, a little money must have made its way to the Greek government. We now have a first look at just what it is that Greece is spending this newly panhandled cash on, courtesy of the WSJ...

h/t Clark

Comments

[Elorant]

Dude you should get your facts straight. This ad is not paid by the greek goverment but by a coalition of greek businessmen.

[Elorant]

Dude you should get your facts straight. This ad is not paid by the greek goverment but by a coalition of greek businessmen.

[walküre]

Tyler(s), let's disect this bailout package.

How much of the money gets actually paid to Greece?

Who carries the cost of the financing?

Where I come from, the borrower has a right to know and understand exactly what they're getting themselves into. The cost of the money is important. At the end of the day, the Greeks are getting fucked bad.

Let's break it down line item by line item if you haven't done so.

[Joebloinvestor]

Should be:

GIVE GREECE ANOTHER CHANCE

& ANOTHER & ANOTHER

[CitizenPete]

"All we are saaaying is give Greece a chaaance..."  WTH?

http://youtu.be/RkZC7sqImaM

[QuietCorday]

Errr ... the advert has been paid for by private business. It is not a state funded advert.

From the website:

Who are the people behind “Greece is Changing”?

• We are a network of like-minded businesspeople, colleagues and friends who cannot be silent observers as the dialogue around Greece’s road to recovery deteriorates and the substance is often overshadowed by stereotypes.
• As we enter a fifth year of recession we want to rebalance the agenda. Inject some more facts into a debate sometimes overrun by fiction.
• We have absolutely no political aspirations and we do not serve nor promote any special interest, personal or professional.
• We are a group of people who hope to voice the concerns of those other Greeks that aspire to a constructive role within Europe, that are Europeans, that will deliver on their country’s commitment, that have already made sacrifices and are ready to do more and that just need a chance to change Greece.

What is “Greece is Changing” aiming at?

• Invite Europeans to see another dimension, to see through the stereotypes and realize that there is another Greece which believes in modernity, in the stability that being part of Europe brings, that is fighting a battle for change that can be won.
• Attract attention to the progress Greece and its people have accomplished and the societal sacrifices made in employment, wages, labor relations and even growth.
• We want the right to earn our recovery.

[my bold]

Fair dos to them, I say.

[Rynak]

Nope, not from me.... while the "nationalistic" (intentionally in quotes) anti-stereotype flavour is appreciated from my (and i guess many others) side... what it is used for.... so, the actual demand and "purpose"..... is completely indistinguishable from bankster propaganda.

So basically, a nice shell, with rotten contents. Fuck em!

Still, your argument of this (supposedly?) not being statefunded (but rather indirectly from banksters?), is well taken - thanks for the info.

[roadhazard]

We all live in a leaky submarine,

leaky submarine,

leaky submarine

[edruiz12]

Hey lets have a Greece Aid concert.

[Rynak]

Funny thing: not that different from typical "aid-concerts" as well..... give more cash to fight the symptoms, while completely ignoring the causes..... xcept of in this case, cash isn't even "given", but taken when reading the fine-print.

[Global Hunter]

edit

[Hellinas]

I usually don't bother replying to posts but I took the time to enroll to let you know a few things:

1.The above advert is payed for by private Greek companies and its message is that we're willing to uphold our commitments. 

2. Greece isn't receiving anything for free. Yes we're more than grateful for the huge loan EU has given us but IT STILL IS A LOAN for which we'll be paying interest.

3. Have you considered why everybody is more than anxious for Greece to receive this loan? Maybe Greece is the escapegoat for the entire Western world's financial mistakes? What happened to the U.S. budget deficit problem and why everybody is talking about a small economy instead of looking at the real problems? We're at the front line...

4. Greece has a long and proud history and when the world was close to fascism we were the only and first country to fight back against Germany, Italy and Bulgaria at the same time. Our history tells us that we are strong willed people and that we'll overcome this but the real question is what will happen to the not tested?

5. It seems that most of the posts in here are quite comfortable in characterizing us quite vulgar. I'm sorry for you, if you change your mind you're more than welcome for some ouzo...