Report Osborne : Comedic Genius Freudian Slip in House prices and the economy Posted October 27, 2011 The banks have to write off 50% of greek debt. Was this debt not financed with the bailout money that was created by those in power ? Which banks are they actually talking about and also who are the private investors who are taking losses ? All these leaders seem so smug but surely throwing more money at a debt problem only prolongs the misery, they say that if they re-capitalise the banks then this will help growth. So the banks lose 50% of one deal and then get more money which they are suppose to lend to businesses at x %, why would they if they have just been shafted ? Essentially, they have given in to greece's demands and reduced their debt which will probably never be paid anyway. Irish people should lynch their so called politicians who have sold them out lock,stock and barrel. However if they march n mass, start a few fires and threaten to default then surely they are looking at 50% reductions on their debt.