These foreign investors took risks and when economy went sour, they got the governments to bail out banks so they can pull out their money.

Then the government debt was put on the backs of taxpayers with cuts to social programs and services , increased taxes , selling of national assets and other austerity measures…

Many of the speculators were German, French, British, American financial institutions managing the billions of $€£

There were also institutional investors managing billions in pension funds that made very risky investments with money they were managing ( some of which was German Pension Fund Money).

These foreign investors made speculative investments but when the bubble burst, they forced countries like Greece, Cypress, Ireland , Spain, etc to bailout banks thereby making private debt ( debt of foreign investors ) into a public debt ( debt of the nation).

Now the countries owe the money…

So ordinary laborers and pensioners in Greece, Spain, Ireland, etc , are bailing out the German, French , British , American Foreign and even institutional investors that created this bubble by speculating and overheating these markets.

There are even cases where Institutional investors used Germans savings to invest in unethical and highly speculative deals where they gave peanuts for returns to pensioners when market was hot but they kept millions in commissions , bonuses and kickbacks.

Later, when market overheated , they loaded bad debts on ordinary citizens of countries like Greece, Spain , Portugal , Ireland …

So basically , they enriched themselves by speculating with ordinary peoples money and when things went bad, unloaded the bad debts to ordinary people in Greece, Spain, Ireland…..

We also found links where money was going to companies and projects where politicians , engineering firms and construction companies that were colluding, bid rigging and tied to kickbacks and illegal political donations to bagmen, politicians and businessmen tied to a network of individuals with ties to political parties in power at the time.

They were lending money to finance infrastructure projects of international engineering companies ( German , French ….) who partnered with local construction companies linked to business persons and elected officials connected to the political parties in power , who got kickbacks and illegal donations .

https://m.youtube.com/watch?v=xu5sTyAXyAoo