Don't think this only applies to "other" countries. The same thing is being done in the United States - to small businesses. local governments and individual citizens.
The "Free Market" banking scam explained.
This excerpt from "The Princes of Yen" shows how the scam works.
1) find productive countries with foreign exchange surpluses
2) persuade them to open their banking systems
3) lend them tons of money on EZ terms
4) change the deal
5) bankrupt them
6) "bail" them out, and
7) take everything not nailed down as conditions for the bail out
It could be worse.
These countries could have ended up like Yugoslavia, Iraq, Libya, or Syria.