I never realized that the situation on the ground was quite so dire. The international media covers only the money. The social cost remains buried.
- One third of the country’s 165,000 commercial firms shut down; a third can no longer pay wages
- The billions of euros in tranches from the EU actually flow back immediately into the EU – reportedly, 97 percent of it – as annual loan repayment instalments to the banks and as new interest charges
- There have been no textbooks in the public education system for months, since the state owes huge sums of money to the publishers and the publishers have stopped the deliveries
The question that arises is: where did all that money go? Did the powerful and politically well-connected manage to siphon off everything? Or were all Greeks living beyond their means, as goes the primary narrative?