The Cost of Public Healthcare

Greece is not a wealthy country. Having been ambitiously lured into joining the Euro which its economy could never support, it is now being pressed to repay money it borrowed to support its ambition by its creditors.

The creditors do not care that Greece spends less on public healthcare per capita than any other European Union nation – its spending each year on this is about enough to keep the BBC going for thirty months – or that doctors and nurses are not paid, medical equipment cannot be repaired for lack of funds and some operations are carried out without anesthetics and drugs because all the money goes to repay its creditors, who were foolish to lend the money to Greece in the first place.

On 5th June Greece must repay the IMF enough money to keep its public healthcare going for three months, but Greece has no money to repay the IMF or to spend on healthcare.

If you spend more than you can afford to repay, there are consequences; if you lend more than the borrower can afford to repay there are consequences too, but those consequences depend on the relative power of the borrower and the lender. For the lenders they may lose some money which includes a usurious rate of interest. For the borrowers, their people will lose their lives.

One Response

  1. It seems to me that the Troika’s bailout terms were akin to giving heroin to a junkie. But we are witnessing the IMF and international banks’ progressive rape of nations.

    After Greece has sold all its assets it will become a serfdom.

    Who’s next?

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