REVEALED: HOW VENIZELOS REGIME SECRETLY REMOVED 70% OF MAJOR HOSPITAL, UTILITY & UNIVERSITY BANK ACCOUNT FUNDS TO PAY BONDHOLDERS
Bank of Greece complicit in broadscale embezzlement revealed by respectable Greek health site
The illegally denied default of Greece entered a dramatic new phase this afternoon with the revelation by mainstream Greek public health website Health News that, shortly before midnight on March 8th – the eve of Greece’s psi completion on Friday March 9th – on average 70% of public utility funds in varous large, interest-bearing accounts at the Bank of Greece were raided. These included most of the State’s regional hospital budgets, various universities and (it is alleged) at least one utility company.
The shortfalls came to light late last week and this morning as various hospital purchasing cheques in particular began to bounce. The monies – estimated by one source to total some 1.4 billion euros – appear to have been used to pay off the tiny minority of private sovereign creditors who, under the original terms of their bond purchase, were entitled come what may to full payment of the bond’s yield entitlement.
Setting aside the amoral audacity of this act, it does yet again raise the issue of a Greece so utterly lacking in any real funds in the real world, that to pay off a minute proportion of the bondholders it had to resort to such a desperate measure.
“The Greek government used this money in order to purchase government bonds from various bondholders without getting permission from the bank account owners,” one reliable Athens source told The Slog in commenting on the story, “hospitals and universities have been robbed of hundreds of millions of Euros, absolutely essential for their core functionality.”