Isabelle Kumar of Euronews interviews Noam Chomsky on a range of topics. On the subject of Greece’s debt (and that of Portugal and Spain and others) this is what he said.
Who incurred this debt? And who is the debt owed to? In part, the debt was incurred by dictators. So in Greece it was the fascist dictatorship, which the US supported, that incurred a large part of the debt. The debt I think was more brutal than the dictatorship, and that’s what’s called in international law, “odious debt” which need not be paid, and that’s a principal introduced into international law by the United States, when it was in their interest to do so. Much of the rest of the debt, what is called payments to Greece are in fact payments to banks, German and French banks, which had decided to make extremely risky loans with not very high interest and are now being faced with the fact that they can’t be paid back.
Read the Transcript: Chomsky says US is world’s biggest terrorist | euronews, the global conversation
Here’s the video.