So last night it finally happened. We formalised the bailout. We are taking an €85 billion loan. We will be paying an interest rate of about 5.8%. We will be loaning money to ourselves.
Yes, you read that last line right.
€17.5 billion will be coming for the National Pension Reserve Fund and the other cash on hand funds.
Who’s fault is this? The Banks.
€35 billion of this is for them. €50 billion is to cover state deficits. They are there because we gave the banks money!
It is a disgrace.
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