After nine years of unprecedented peacetime economic hardship, Greece exits its IMF bailout programme on August 20.
- Dimitrios Syrrakos
- The Conversation
So ends a series of three bailouts organised by the so-called troika of the IMF, European Central Bank and European Commission.
A total of €336 billion was lent to Greece in the wake of the financial crisis, to stop it defaulting on its national debt, with approximately €300 billion used so far.
What’s more, over 90% of the funds were not directed toward investment projects, but went on servicing Greece’s national debt.
And the financial aid was provided on the..