ECONOMY

Main chunk of Greece aid went to banks and wealthy investors, activist group says

More than three quarters of Greece’s rescue aid has gone to banks and wealthy investors according to a study by the activist group Attac that was published Monday in Suddeutsche Zeitung.

The France-based organization estimates that out of the 207 billion euros earmarked by the debt-wracked nation’s foreign creditors, 160 billion has ended up with lenders and investors, according to the report.

“Political elites have not been trying to rescue the Greek population, but the finance sector,” Lisa Mittendrein, from the group’s Austrian chapter, was quoted by the German newspaper as saying.

“The widespread belief supported by European politicians that the various rescue packages for Greece have helped ordinary people in the country is no longer tenable,” she said according to the report.