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The Secret Bank Bailout (HD 1080p) | German TV Award 2013


investigative author Harald Schumann : "In the Eurozone, countries borrow from each other in order to save the privately owned central banks. But who actually gets this money? Where does it flow? Most people think that we, the Germans, or the other wealthy Europeans, would save the poor people in Spain or Greece or Ireland or Portugal. But that's not true. We rescue the banks. But what do the banks do with the money that they get? Where does it go?"

The Secret Bank Bailout (HD 1080p) | German TV Award 2013

202,728 views Nov 11, 2014

50 billion euros in Greece, 70 billion euros in Ireland, 40 billion euros in Spain - one Euro-country after another is forced to support its banks with huge sums of money in order to equalize the losses incurred by money worldwide from bad loans. But where do the billions go anyway? Who are the beneficiaries? With this simple question the award-winning business journalist and nonfiction author Harald Schumann travels across Europe and gets surprising answers.

The rescued are not in the poorer Euro states - unlike commonly believed - but mainly in Germany and France. A large part of the money ends up with the creditors of the banks that want to be saved or must be saved. And although these investors have obviously made bad investments, they are - against all logic of the free market economy - protected at the expense of the general public against any losses. Why? Who gets the money? Actually, simple questions, but that regard the core of European identity. Maybe the most passionate film on the banking crisis.

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