Debtocracy (2011)

Debtocracy (2011)

A 2011 documentary film by Katerina Kitidi and Aris Hatzistefanou. The documentary mainly focuses on two points: the causes of the Greek debt crisis in 2010 and possible future solutions that could be given to the problem that are not currently being considered by the government of the country.

The documentary has been distributed online under a Creative Commons.

http://en.wikipedia.org/wiki/Debtocracy

The documentary opens with the statements of Greek Prime Ministers, starting with the dictator Georgios Papadopoulos and Dominique Strauss-Kahn, managing director of the International Monetary Fund, and ending with some of the most prominent figures in Greek politics since the metapolitefsi: Andreas Papandreou, Konstantinos Mitsotakis, Kostas Simitis, Kostas Karamanlis and current Prime Minister George Papandreou. The focus then shifts to the prelude to the recent global economic crisis and its origins in the 1970s.

Interviews with prominent figures of the global philosophical and economic scene also point out to the non-viability of the euro and its contribution to the worsening of the finances of Greece due to a systematic loss of competitiveness in the markets by the PIGS.

The documentary claims that the Euro contributed to the crisis.

The documentary traces the roots of the Greek debt back to the revolution of 1821 and the British loans that were issued. The documentary also points out to the fact that Greece, in its 190 years of existence, has only lent money once, during the German occupation of Greece, and has always been the recipient of loans in all other instances. The documentary 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 Maastricht treaty, the new loans that were issued to pay older debts and the current economic policies of Greece, the IMF and the ECB, which will result to an even higher debt, equal to 167% of the country's GDP in 2013.

This documentary is presented in the Greek language with subtitles in English
Duration 74 minutes