" A cynical ploy that transferred hundreds of billions of losses from the books of the French and German banks to Europe’s taxpayers was presented to the world as the manifestation of European solidarity. What makes this transfer sinister, rather than just cynical, was that the Greek loan came not only from French and German taxpayers but also from the Portuguese, the Slovaks, the Irish taxpayers—from countries whose banks had nothing to gain. In essence, the private losses of French and German banks were spread around throughout the eurozone, forcing even the weakest citizens of the weakest of member-states to chip in. "

― Yanis Varoufakis , And the Weak Suffer What They Must? Europe's Crisis and America's Economic Future