by kryfos0kosmo
May 12, 2011

from YouTube Website



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 dominant media.

Debtocracy 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

  • possible future solutions that could be given to the problem that are not currently being considered by the government of the country

Aris Hatzistefanou, 34, is accustomed to uncomfortable reporting.


A journalist since his teens, his long-running show Infowar on Sky Radio was canceled just as his thought-provoking documentary, Debtocracy, was released.

From the authors

The idea came about during a Sky Radio show on how the Ecuadorian president was responding to the countryís massive debt.


He started a simple financial audit of sovereign debt, and came to the conclusion that other countries were using Ecuador as a slave, like Argentina and many other countries before. The administration forced a haircut of 70% on its creditors.

Katerina Kitidi - editor in chief of TV XS - and I decided to produce the documentary.


We faced a serious funding problem but, for obvious reasons, we didnít want to ask any political parties, companies or - even worse - banks, so we resorted to crowd-funding.

It worked very well, we collected 8,000 Euros in just 10 days, an unprecedented figure for a country like Greece, facing a serious economic crisis.

At the beginning this project was supposed to be a mere YouTube video. But because so many professionals offered their help (musicians, video editors), and so many people donated their money, it became a real documentary.


The surplus was invested in promoting the movie.