It is scandalous that the debts of private banks have been added to a national debt

All we hear is that Greece must pay ‘its €357bn of debts, but that debt is never broken down. 

How much of it relates to the cost of running the Greek state and the public sector, and how much relates to the cost of running the euro banking system? What private-sector industry other than the banks could have its ‘debts’ added to a national debt?

The Greek state has cut back its costs so much that it is on the line to have a primary surplus, which means the cost of running Greece matches the amount of tax revenue it generates. Is the amount of dollars running in and out of the banks in California or North Dakota part of those states’ debt? No. Is the amount of money running in and out of banks in the different regions of the UK, or Japan, classed as a debt the taxpayers of those regions must pay? No. So why should the Greek taxpayers be burdened with the transaction costs of the private-sector banks.