It's all about debt of course, and how you define it. A couple days ago Greg Palast wrote an excellent piece arguing "Greece owes Germany, the IMF and the European Central Bank for bail-out-billions. Nonsense. None of the billions in bail-out funds went into Greek pockets. It all went to bail out Deutsche Bank and other foreign creditors. The EU treasuries swallowed 90% of its private bankers’ bonds. Germany bailed out Germany, not Greece." Palast's logic and argument hold for all the purported stimulus plans and QEs. Every one of them is a scam to pay off the bad bets of criminals.
Greece's debt started growing long before the EU. Since WW11 Greece's generals, bureaucrats and politicians have lived like kings on the bribes they have routinely accepted from the military contractors courtimg them. Greece's generals used the fear of Turkey to blackmail successive weak governments into borrowing, Turkey's generals did the same.
Then the debt ramped up when spending and borrowing to buy from the EU's arm's dealers-especially the German arm's dealers-when Greece panicked in response to the paranoid security fears of America after 9/11 during the lead up to the 2002 Olympics. Greek debt wasn't brought on by overspending on social programs-as the financial markets keep bellowing-but by the unnecessary spending on arms.
explains, "For a long time Greece spent 7% of its GDP on defence when other European countries spent an average 2.2%. If you were to add up that compound 5% from 1946 to today, there would be no debt at all.".Athens' fondness for weaponry, and willingness of Germany and France to feed it are the historic problem. Now the profit hungry bankers demand that the poor in Greece cover their bad bets.
The Greeks have stopped paying their taxes entirely in advance of the elections, the banks run out of cash daily, one truth among many is that Greek debt cannot be repaid by more austerity. Another is that the elites in Greece, as they do everywhere, have drained the Greek treasury dry. "You see, the Greek government debt is up to €330 billion. And a lot of debt nowadays is ensured in the derivative markets. So if Greece actually leaves the euro that would mean that a lot of credit default swaps would come due. And that could actually bring down the euro, and could also bring down the whole financial system, worldwide." - RT
Now, because the crooks have used that Greek 'debt' as an insurance swindle, the Bankers and Billionaires Club members are in fear of losing some of their ill-gotten gains when Greece, like Argentina, Iceland and Brazil did, default on the swindlers and vote for the unknown.