{"id":6980,"date":"2014-01-29T17:21:07","date_gmt":"2014-01-29T17:21:07","guid":{"rendered":"http:\/\/www.foto8.com\/live\/?p=6980"},"modified":"2014-02-13T15:04:23","modified_gmt":"2014-02-13T15:04:23","slug":"greek-crisis-what-a-waste","status":"publish","type":"post","link":"https:\/\/www.foto8.com\/live\/greek-crisis-what-a-waste\/","title":{"rendered":"Greece, Voices from the Crisis by Cedric Spilthooren"},"content":{"rendered":"

\"cedricspilthooren_880\"<\/p>\n

Against a backdrop of uncontrollable government debt<\/a>, demonstrations and riots in the streets the Greek Parliament endorsed austerity measures demanded by the Tro\u00efka of the EU<\/a>, ECB<\/a> and IMF<\/a> on 7 November 2012 . The leaders of other European countries and their financial institutions have continued to demand the unflinching implementation of austerity measures to stem the countries spiraling debt. On more than one occasion since 2010 the situation in Greece has brought the whole of the European banking and financial system to the brink of chaos.<\/p>\n

In early 2010, it was revealed that through the assistance of Goldman Sachs<\/a>, JPMorgan Chase<\/a> and numerous other banks, financial products were developed which enabled the governments of Greece, Italy and many other European countries to hide their borrowing.<\/p>\n