{{Multiple issues|{{more citations needed|date=September 2022}}{{original research|date=September 2022}}}} {{Use dmy dates|date=August 2016}} {{Infobox film | name = Debtocracy | image = Debtocracy poster.png | director = Katerina Kitidi<br />Aris Chatzistefanou | writer = Katerina Kitidi<br />Aris Chatzistefanou | producer = Kostas Efimeros | music = Giannis Aggelakas | editing = Leonidas Vatikiotis | released = {{Film date|df=y|2011|4|6}} | runtime = 74 minutes | language = Greek | country = Greece }} '''''Debtocracy''''' ({{langx|el|Χρεοκρατία}} ''Chreokratía'') is a 2011 left-wing documentary film by Katerina Kitidi and Aris Chatzistefanou. The documentary examines the causes of the Greek government-debt crisis in 2010 and advocates for the default of "odious debt".
The documentary has been distributed online under a Creative Commons BY-SA 3.0 license since 6 April 2011, and the production said that it has no interest in any kind of commercial exploitation of the project.<ref name="Distribution">{{cite web |url=http://www.debtocracy.gr/distribution.html |script-title=el:Διανομή |language=Greek |access-date=11 April 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110416103230/http://www.debtocracy.gr/distribution.html |archive-date=16 April 2011 |df=dmy }}</ref> The documentary is available in Greek and English and is subtitled in French, Spanish, Italian and Portuguese.<ref name="Profile">{{cite web |url=http://www.debtocracy.gr/profile.html |script-title=el:Όταν η δημοκρατία υποτάχθηκε στο χρέος |language=Greek |access-date=11 April 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110412222527/http://www.debtocracy.gr/profile.html |archive-date=12 April 2011 |df=dmy }}</ref> According to ''The Nation'', half a million people watched the film in the first five days of its release.<ref>[http://www.thenation.com/video/161628/debtocracy-story-greeces-financial-ruin Debtocracy at VideoNation]</ref>
The film was followed by a Greek-language book with the same title.<ref>{{cite book|last1=Vatikiōtēs|first1=Katerina Kitidē, Arēs Chatzēstephanou; epistēmonikē epimeleia, Lēōnidas|title=Debtocracy : chreokratia|date=2011|publisher=Ekdotikos organismōs livanē|location=Athēna|isbn=978-960-14-2409-5}}</ref>
==Name== The production team coined{{citation needed|date=September 2014}}<!-- "coined" requires an independent source verifying they were the first to use this word; otherwise just say "used" --> the word "debtocracy" (Greek "Χρεοκρατία"), defining it as the condition by which Greece found itself trapped in its debt.<ref name="Profile" /> The term is derived from the words "χρέος" (debt) and the Greek "κράτος" (power, rule -ocracy). The title implies that the Greek government has been functioning mainly under the interests of the financial debt (at points superseding or even replacing the principles of Democracy and the Constitution of Greece), and therefore the debt has been elevated as a ''de facto'' form of government by itself.
==Content summary== [[File:PIGSmap.svg|thumb|200px|The PIIGS]] The documentary opens with the statements of Greek Prime Ministers, starting with the dictator Georgios Papadopoulos and Dominique Strauss-Kahn, managing director of the International Monetary Fund, and ending with some of the most prominent figures in Greek politics since the metapolitefsi: Andreas Papandreou, Konstantinos Mitsotakis, Kostas Simitis, Kostas Karamanlis and the then Prime Minister George Papandreou. The focus then shifts to the prelude to the 2008 financial crisis and its origins in the 1970s. Interviews with prominent{{citation needed|date=September 2014}} figures of the global philosophical and economic scene argue that the euro is non-viable and contributed to the worsening of the finances of Greece due to a systematic loss of competitiveness in the markets by the PIGS.
The documentary traces the roots of the Greek debt back to the revolution of 1821 and the British loans that were issued. The documentary criticises the notion that the Greek population, since it enjoyed the country's prosperity produced by past loans, is now accountable as a whole for the debts. Debtocracy argues Greek politicians encouraged too much borrowing and corruption. The documentary praises Ecuador's decision to unilaterally default on part of its sovereign debt, on grounds of social justice. The solution suggested for the Greek government-debt crisis is the formation of a committee for the analysis of the debt in a similar way that Ecuador did. If the analysis proves all or part of the debt to be odious the people should not have to pay for it and therefore it should be erased, the film argues.
==Production and participation== The production team of ''Debtocracy'' have said that the producers are all those individuals that donated money in order to finance the project.<ref name="enet">{{cite web |url=http://www.enet.gr/?i=news.el.article&id=265742 |script-title=el:Ενα ντοκιμαντέρ για τη χρεοκρατία |language=Greek |publisher=Ελευθεροτυπία |access-date=15 April 2011}}</ref> Interviewees include: *David Harvey, geographer and social theorist *Hugo Arias, president of the debt analysis committee of Ecuador *Samir Amin, economist *Eric Toussaint, political scientist and spokesperson of the Committee for the Abolition of Illegitimate Debt *Gérard Duménil *Costas Lapavitsas, economist *Alain Badiou, philosopher *Manolis Glezos, member of the Greek Resistance and left-wing politician *Avi Lewis, journalist and film director * Sahra Wagenknecht
==Critical response== 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.{{Citation needed|date=June 2018}}
The documentary depicted scenes where Argentinian and Ecuadorian politicians had to evacuate the besieged parliaments by means of a helicopter. Iconic images and references to helicopters were adopted by the Aganaktismenoi movement who surrounded the Greek Parliament in 2011.
Critics of the film make four main points: ; Accusation of propaganda<ref name="To Vima propaganda" /> : The film is suspected to be only a part of a marxist propaganda ; False comparison of Greece with Argentina and Ecuador : The film argues that Argentina and Ecuador were right to default but the comparison has been described as incorrect.<ref name="Kathimerini propaganda" /> ; Lack of opposing point of views : Only people in favor of a Greek default were questioned ; No alternative propositions : Only a cancellation of the Greek debt is invoked. Nothing about the competitiveness of the Greek economy.
Writing for the British newspaper ''The Guardian'', Aditya Chakrabortty said the movie's criticism of the euro was "compelling" and, despite its low budget, called the documentary "the best film of Marxian economic analysis yet produced".<ref name="Guardian Debtocracy">{{cite web |url=https://www.theguardian.com/film/2011/jun/09/debtocracy-film |title=Debtocracy: the samizdat of Greek debt |author=Aditya Chakrabortty |date=9 June 2011 |publisher=www.guardian.co.uk |access-date=8 September 2011}}</ref>
Major Greek newspapers such as ''To Vima'' and ''Kathimerini'' have criticized the documentary as a work of political propaganda.<ref name="To Vima propaganda">{{cite web |url=http://www.tovima.gr/politics/article/?aid=396042 |title=Η "Χρεοκρατία" άναψε φωτιά στο Διαδίκτυο |author=Argyris Papastathis, Lina Psaila |date=17 April 2011 |publisher=www.tovima.gr |access-date=8 September 2011}}</ref><ref name="Kathimerini propaganda">{{cite web |url=http://news.kathimerini.gr/4dcgi/_w_articles_columns_2_17/04/2011_439294 |title=Ψέματα, μεγάλα ψέματα και ντοκιμαντέρ |author=Paschos Mandravelis |date=17 April 2011 |publisher=www.kathimerini.gr |access-date=8 September 2011 |archive-url=https://web.archive.org/web/20120209030726/http://news.kathimerini.gr/4dcgi/_w_articles_columns_2_17/04/2011_439294 |archive-date=9 February 2012 |url-status=dead }}</ref> ''To Vima'' argues that Greece's and Ecuador's economies have little in common, as Ecuador is a major oil producer for its size and population, contrary to Greece.<ref name="To Vima propaganda" />
A similar critical review was published by ''Kathimerini'', stating that ''Debtocracy'' is aimed at promoting political propaganda rather than objectively presenting a proposed solution to the Greek government-debt crisis.<ref name="Kathimerini propaganda" /> ''Kathimerini'''s review also echoed that of ''To Vima'', saying that the examples of both Ecuador and Argentina are unfortunate as they bear no resemblance to Greece and come in full contrast with the documentary's line of argument.<ref name="Kathimerini propaganda" />
Other Greek media that have criticized the film include Skai TV.<ref name="Skai Debtocracy">{{cite web |url=http://www.skai.gr/news/opinions/article/166871/i-eidehthis-protasi-tou-apehthous-hreous-/ |title=Η ειδεχθής πρόταση του "απεχθούς" χρέους |author=Thanos Dimadis |date=11 April 2011 |publisher=www.skai.gr |access-date=8 September 2011}}</ref>
=== In universities === Professor of Economics at the University of Athens wrote a letter to the producers of ''Debtocracy'' explaining the reasons for which he refused to be included in the documentary production team, and said among other things that he does not believe that Greece and Argentina have anything in common and that a default would not be an easy solution.<ref name="To Vima propaganda" />
Former Aristotle University of Thessaloniki professor Eleftheria Karnavou wrote a letter to the newspaper ''Agelioforos'' arguing that being completely against the documentary is unjustified, even though it is politically and scientifically unfounded, as it provides food for thought.<ref name="Agelioforos Debtocracy">{{cite web|url=http://www.agelioforos.gr/default.asp?pid=7&ct=36&artid=93446 |title=Για το ντοκιμαντέρ "Χρεοκρατία" |author=Eleftheria Karnavou |date=21 May 2011 |publisher=www.agelioforos.gr |access-date=8 September 2011 |url-status=dead |archive-url=https://web.archive.org/web/20120323031339/http://www.agelioforos.gr/default.asp?pid=7&ct=36&artid=93446 |archive-date=23 March 2012 |df=dmy }}</ref>
=== Response to criticisms === When asked about the one-sidedness of the film by the Greek newspaper ''Eleftherotypia'', the producers replied that they had made it clear from the start who was funding the project,<ref name="Enet Debtocracy 1">{{cite web |url=http://www.enet.gr/?i=news.el.article&id=270271 |title=Debtocracy: Ο κόσμος διψά για διαφορετικές προτάσεις εξόδου από την κρίση |author=Moisis Litsis |date=26 April 2011 |publisher=www.enet.gr |access-date=8 September 2011}}</ref> that they used abstracts from documentaries produced by reporters of the BBC,<ref name="Enet Debtocracy 1" /> and that those people that speak out against ''Debtocracy'' are the same people that find the television news broadcasts to be objective and credible.<ref name="Enet Debtocracy 1" />
==See also== * Odious debt * Economy of Greece * Propaganda model
==References== {{reflist}}
==External links== * {{IMDb title|1890383}} * [https://web.archive.org/web/20140112060826/http://owni.eu/2011/05/06/exclusive-campaigning-documentary-debtocracy-released-in-english/ An interview with Aris Hatzistefanou], ''Owni.eu'', May 6, 2010
Category:2011 films Category:Greek documentary films Category:2010s Greek-language films Category:Films shot in Ecuador Category:2011 documentary films Category:Creative Commons-licensed documentary films Category:Internet documentary films Category:Documentary films about the Great Recession Category:Economy of Greece Category:Works about debt Category:Works about the International Monetary Fund