EFTA01198059.pdf

From: "Noam Chomsky" > To: "Jeffrey E." <[email protected]> Subject: RE: Date: Mon, 29 Jun 2015 02:28:33 +0000 Inline-Images: image001.png According to economists who have been trying to investigate the details, about 90% of the payments to Greece actually go to the German and French banks who made risky investments and want to be paid off. So in effect Greeks are paying the northern banks for debts that the people never incurred. These should, I think, be considered "odious debts," and radically restructured or cancelled. Interested to hear about Barak. Wouldn't have expected it. From: Jeffrey E. [mailto:[email protected]] Sent: Sunday, June 28, 2015 5:43 AM To: Noam Chomsky Subject: Greece's circular repayment situation Country needs new bailout funds to pay back earlier bailout International r lenders €7.2bn European Funds currently Central Bank being withheld until reform Eurozone package countries is agreed Greek government €1.6bn Due 30 June, failure to pay will cause a 'default' I thought this chart was a great example of what i have been telling you. // right pocket to left pocket.. the accounting for it is even stranger. . as it is an interest payment , they record income. ? if the interest rate is high, you would call it predatory lending. if it was low you would call it a bail out. all silly. 2 . the Chomsky questions? .. 3. Ehud agrees with a great deal of your views . disagrees with some observations of yours. has great respect for you. EFTA01198059