[Norm’s note: After or even before you view (or don’t view) this exploration of the Greek debt crisis, you might want to read this post by Dean Baker: Wolfgang Schauble, the hero of the Greek austerity crisis? Broadly speaking, I agree with Dean Baker’s position, that Greece (or any other nation, for that matter) would be — in the long run — better off as a “sovereign nation.” Harald Schumann’s “The Trail of the Troika” underscores the point while greatly illuminating the mechanics of neo-liberal (i.e., capitalistic) plunder. Hat tip, by the way, to Critical Thinking for highlighting Schumann’s piece.]
Published on Jul 6, 2015
What is happening in Europe in the name of the troika? A must-see for anyone who wants to understand the situation in Greece. The European Union and International Monetary Fund have lent more than 400 billion Euros to Greece, Portugal, Ireland and Cyprus to keep these countries solvent. The lenders granted enormous power to the three institutions of the so called troika: the IMF, the European Central Bank and the European Commission. Without any public accountability, the troika is forcing the crisis states to implement policies that are tearing the social fabric of their countries apart. German journalist and best-selling author Harald Schumann travelled to Athens, Lisbon, Dublin, Nicosia, Brussels, Washington, New York and London, in order to find out who has actually benefited from austerity measures. He puts this question to ministers, parliamentarians, economists, bankers, doctors and also to the victims of these policies, the unemployed and the ill. Among the many people we meet are Nobel Prize winner Paul Krugman, IMF Director Paulo Batista and Yanis Varoufakis, the newly elected Greek finance minister. Schumann’s revelations are often devastating and shocking. Given the negotiations currently taking place between the newly elected Greek government and their European partners, this film is of great political and economic relevance.
Want to get even more detail information? You will find all interviews made for this film in full length on “HARALD SCHUMANN ON THE TRAIL”, here on YouTube: https://www.youtube.com/channel/UCoZV…
Current Affairs / Economy
Film by Harald Schumann, Árpád Bondy
Co-Production Árpád Bondy Filmproduktion with RBB/ARTE, 2015
Original title Macht ohne Kontrolle – die Troika / Puissante et incontrôlée – la Troika