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'Euro system failed, states can go back to national currencies'

5 years ago179 views

A third bailout for Greece is now necessary and unavoidable - according to EU and German officials. But Chancellor Angela Merkel, who's trying to calm a riled-up electorate, insists that a lot less money will be needed this time round. Together with the two prior bailouts the total sum of money loaned to Athens would stand at a quarter of a trillion euros!

A sum that dwarfs Greece's GDP and makes repayment a distant hope. In the country itself matters are desperate. Unemployment is at records levels, with more than half the youth jobless. Cases of suicides and homelessness have rocket these last few years, but Germany remains adamant for more austerity.

The early figure being floated for a new Greek bailout is 10 billion euros... though as recent history suggests, that's likely to go up. But the Alternative for Germany Party election candidate Paul Hampel, says that Germans are well aware, of the true purpose of the bailouts.

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