Throughout the euro zone’s financial crisis, there have been pledges of solidarity among the nations and promises that budget cuts mandated under various bailout programs wouldn’t hurt the poor.
But as Greece confronts 25 percent unemployment and a cratering economy, it will make an estimated $16 billion in interest payments this year – much of it to other European governments that have loaned it money, to the International Monetary Fund and to the European Central Bank, now one of the country’s major bondholders.
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