DEBTOCRACY International Version (Documentary)

Tuesday, December 20, 2011

DEBTOCRACY International Version (Documentary)

Debtocracy (Greek: Χρεοκρατία hreokratía) is a 2011 documentary film by Katerina Kitidi and Aris Hatzistefanou. The documentary mainly focuses on two points: the causes of the Greek debt crisis in 2010 and possible future solutions that could be given to the problem that are not currently being considered by the government of the country.

The production team defines "debtocracy" as the condition by which Greece found itself trapped in its debt. The Greek term for debtocracy, Χρεοκρατία, has the same roots as the word for democracy. The term is coined from the Greek words "χρέος" (debt) and "κράτος" (power) in a similar manner that the word democracy is formed of the Greek words "δήμος" (people) and "κράτος" (power).

For the first time in Greece a documentary produced by the audience. “Debtocracy” seeks the causes of the debt crisis and proposes solutions, hidden by the government and the corporate media.

This documentary provides an insight into the causes of the Greek sovereign debt crisis and discusses some of the possible ways out. The documentary also draws parallels to other cases of sovereign debt crises, such as Argentina, and Ecuador.

In a time where the European sovereign debt crisis is the key focus of global financial markets, and a key factor in the global economic outlook, this documentary provides a good opportunity to understand the background of the sovereign debt crisis.

Debtocracy has attracted considerable attention in the Ιntenet. The documentary has received mixed reviews, both for its use of economics and its political intention as a film, both by Greek and international media.

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