Galery

1

We should note two things here: how "neoliberal" is this idea (as noted) and if "the model of Iceland" would be a nightmare as it has been spreading.

First, this solution is not liberal. From a liberal perspective, this means, "you played and you lost." The bank loses capital, the loans and deposits are transferred to another healthy bank, and the deposits exceeding 100 euro, which are not guaranteed ... hum, disappear. There are two problems here: the first is that there is not a healthy bank in Greece, because they all are in the same position, and the second is that the last thing the political system wanted was the bank run of indignant depositors who have lost their deposits.

Finally, let’s consider the "model of Iceland," which is liberal in nature. The propaganda here again spreads the heroism of the political system that "refused to save the banks." What is carefully concealed in this propaganda is that foreign nationals have also lost money as a result of which lawsuits of British and Dutch citizens against the Icelanders are pending at present.

The slogan "bankers to pay the crisis" actually means "the government deficit to be paid not only by taxpayers but by the holders of bank deposits as well." And, as far as I know, nobody in Greece wants this, even those who are chanting the above motto.

Triumph of propaganda and defeat of reason. Think about it."

The haircutting of Greek government bonds involved 15,000 individual persons who trusted the government propaganda, which blared forth in 2009, that it would be safer to invest in bonds rather than to keep their savings in a bank. The video below illustrates what happened to these people's savings: