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 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 documentary asserts that the current debt of Greece is due to the nationalisation of failing private companies, the systematic failure of the state to tax fairly, the restrictions of the Maastricht treaty, the new loans that were issued to pay older debts and the current economic policies of Greece, the IMF and the ECB, which will result in an even higher debt, equal to 167% of the country's GDP in 2013.

The case of Ecuador

The documentary suggests the case of Ecuador as an alternative government reaction to the International Monetary Fund and the World Bank, sensitive to social justice, that saves the people from having to pay for a loan that didn't benefit them. In 2006 prime minister Correa decided that the funds from the natural resources of the country would be used for public policy, and not for the payment of the debt. Second, Correa decided that only 20% of the annual budget should be used for the debt, instead of 50%. Third, he organized a committee to analyze the public debt. The committee was able to complete the analysis of the debt, and to find that it was illegal. The loans taken were used for projects that benefited only a "few", plus the governments signed the contracts without informing the people, and the bankers were aware of this. In the end, Ecuador was able to save about $7 billion.

Solutions to the Greek crisis

The solution suggested for the Greek 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.