Debtocracy

2011 – Katerina Kitidi and Aris Hatzistefanou: A key documentary to understand the economical crisis faced by Greece since 2010, and  factors that provoked it. Through the documentary you can also learn some basics of ecomomy and get to know which other countries have suffered a kind of same situation faced by Greece, during the history. It gives also some solutions that might be employed by the greek government, but that they are not going even to be discussed by their politians.

The documentary is also very critical with the neoliberal economic system that our regions and countries are playing with, and how any time there will be countries, and citizens, being punished by the totalitary rules of the capitalism. Actors of first line like the FMI and the European Central Bank, are pushing the economy to follow a game where the rich are getting richer and the poor, poorer.

It traces the roots of the Greek debt back to the revolution of 1821 and the British loans that were issued, and it asserts that the current debt of Greece is due to the nationalisation of failing private companies, the systematic failure of the state to tax fairly, the restrictions of the Maastrich Threaty the new loans that were issued to pay older debts and the current economic policies of Greece, which will result in an even higher debt, equal to 167% of the country’s GDP in 2013.

The documentary criticises the notion of the collective responsability according to which the Greek population, since it enjoyed the country’s prosperity produced by the past loans and corruption, is now accountable as a whole for the debts. Debtocracy emphasises on the merit of the politicians who encouraged loaning and corruption and handled the circumstances leading to the debt crisis.

The film was followed by a book under the same title (ISBN 978-960-14-2409-5) of the same content, but enriched with articles and references

[GRE with subtitules in ENG]

[GRE with other subtitles]

Debtocracy International Version

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