Global bankers cash in on Greek misery
Thursday 08 March 2012
Printable
EmailStock markets rose around the world today due to a greed bubble inflated by the misery of the Greek people.
The rising markets reflected the chances of financiers agreeing to a bond exchange deal to scavenge cash from Greece's ravaged economy.
A fresh £109 billion loan-for-cuts deal for the unelected Athens government is tied to forcing the speculators who snapped up Greek state debt at the height of its crisis, when it promised big returns, to settle for a far smaller payout.
But new economic data revealed the full extent of the pain that creditors have piled on the real losers - the people of Greece.
Unemployment hit 21 per cent in December - up from 14.8 per cent in 2010 - as the government launched a cuts cull aimed at the public sector.
A threatening 51.1 per cent of Greeks between 15 and 24 are out of work.
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