Saturday, March 6, 2010

Greece 1898

From today's NYT:
The year after Greece lost another war against the Ottomans, Germany joined five other European powers in imposing the International Financial Commission on Greece in 1898. The commission controlled customs duties at ports including Piraeus and Corfu; state monopolies for products such as kerosene, matches and playing cards; and duties on stamps and tobacco consumption, all to ensure that Greece continued repaying its loans.

Those were the days. That was when "conditionality" really meant something.

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